On 14 dec, China Aviation Oil opened just above the uptrend support (blue dotted), before breaking down and touched the long term downtrend support (green) @ 2.09
Monday will quite important as you can see two pairs of trendlines intersecting. The long term downtrend resistance (red) meeting the uptrend support (blue dotted).
And the long term downtrend support (green) meeting the uptrend support (blue).
If the support breaks, we could see China Oil testing 2.00 again. If the resistance breaks, it still has to break another resistance @ 2.24 (red dotted). If that also breaks, next resistance could be as high as 2.36.
Good Luck !!
Saturday, December 15, 2007
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