Disclaimer

Disclaimer:-Please note that all such analysis is provided by way of information only. All of the information was and should be taken as having been prepared for the purpose of reference only and that none were made with regard to any specific investment objective, financial situation or the needs of any particular person who may receive the analysis. Any recommendation or advice that may be expressed in or inferred from such analysis therefore does not take into account and may not be suitable for your investment objective.

Monday, January 21, 2008

China Aviation Oil 210108

From the chart, we can see that China Aviation Oil broke down on 15 jan, when it broke the long term downtrend support (pink) and downtrend resistance (upp red - -).

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China Aviation couldn't complete the double-bottom formation when it broke below the 1.92 support (red . .) on 14 jan too.

The difference from the peak on 6 dec (2.39) to the support of 1.92 is 47 cents. So we may see China Aviation Oil testing the 1.40 level soon. If you look at the chart, that is where the downtrend support (low red - -) is pointing to.

So we may see China Aviation Oil trading within this channel (red - -) this week.

For tomorrow :

Support @ 1.482 (low red - -)
Resistance @ 1.66 (upp red - -)

Good Luck !!
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