Trading day running commentary, page-3461

We expected the test of 865c which is a heavy technical support line. Which way it goes from here is anyone's guess given the markets are yet to settle down. Short term, further technical downside is possible with stops at 80c then quickly 70c. I would be surprised if in fact it does break down under 865c for an extended period of time (say more than a few weeks). If it does, fundamentally the lack of material news flow from CTM would be a contributing factor I think. With material news flow, they always seem to drop the ball for the first half of every year then pull the finger out coming into Christmas. There's a lot of mouths being well fed now over at CTM and the amount of material work we see (through their ASX announcements) doesn't line up imho. But that's just my personal opinion and am happy to be surprised by a sudden onset of steady positive news flow.