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.

Saturday, March 8, 2008

China Aviation Oil 070308

China Aviation Oil first broke out of the long term downtrend resistance (upp pink) on 18 feb. However, its uptrend momentum could not be sustained, and it finally slipped below 28 feb.

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China Aviation Oil then broke the uptrend support (low blue) on 1 mar, and it remained trading within the downtrend channel (red). It is now trading very close to the long term downtrend support (low pink).

If this breaks, we migh see China Aviation Oil testing the low of 1.33 on 22 jan.

For monday :

Support @ 1.391 (low pink), 1.38 (low red), 1.33 (22 jan low)
Resistance @ 1.472 (mid red), 1.538 (upp red), 1.61 (upp pink)
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