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.

Friday, March 28, 2008

China Aviation Oil 280308

Updated the trendlines, and you can see that China Aviation Oil first broke out the downtrend resistance (red --) on 25 mar with volume, hitting the 1.50 resistance (green ...) on the same day.

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Thereafter, China Aviation Oil went side ways for 2 days, before breaking the 1.50 resistance today. Other than 27 mar, China Aviation Oil is still trading within the uptrend channel (purple).

If China Aviation Oil can open above the 1.50 resistance on monday, as well as continue to trade within the uptrend channel (purple), we might see China Aviation Oil testing the downtrend resistance (upp red).

If China Aviation Oil can break the downtrend resistance (upp red), it could at the end of its double-bottom formation.

For monday :

Support @ 1.50 (green ...), 1.472 (low red, mid purple), 1.387 (upp pink, low purple, red --)
Resistance @ 1.583 (upp purple), 1.627 (upp red)

Good Luck !!
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