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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.

Thursday, January 3, 2008

China Sky 030108

The 2.22 level is proving to be a big stumbling block for China Sky. After failing to break it yesterday, we saw China Sky trading below the uptrend support (lower green) today.

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However, it did managed to stay above the longterm uptrend resistance (upper blue dashed). China Sky should continue to trade sideways if it can stay above this line. If China Sky breaks below the longterm downtrend resistance (upper red), China Sky could be on a downtrend.

I've added in another channel (light blue) to see if we can get a trend out of it.

For tomorrow :

Support @ 2.0867 (lower light blue), 2.0564 (upper blue dashed), 2.0245 (upper red)

Resistance @ 2.211 (upper light blue), 2.22, 2.23 (lower green)

Good Luck !!
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