Yangzijiang 200208

Yangzijiang opened below the short term uptrend support (low light blue) today. As discussed on 15 feb, Yangzijiang also tested the neckline of 1.47 (high of 1.48) on 18 feb but failed to break it. Thus, the dip in the next few days could be due to profit taking.



However, it momentarily broke through the long term downtrend support (low red) today, but still managed to close above the support line.

I've added another short term uptrend channel (light blue --) to see if Yangzijiang can stage a rebound. If it doesn't, we may see it testing the 1.20 level (6 feb low).

For tomorrow :

Support @ 1.277 (low light blue --), 1.264 (low red), 1.206 (upp red --)
Resistance @ 1.358 (mid red, low blue), 1.394 (low blue, upp light blue --), 1.447 (upp red)

Good Luck !!