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.

Sunday, April 6, 2008

China Aviation Oil 040408

China Aviation Oil opened above the 1.50 psychological resistance turned support (green ...) on 31 mar but closed below it. However, on 1 apr, we saw China Aviation Oil again opening on the support (green ...) and continued to trade upwards within the uptrend channel (purple).

Photobucket

Although China Aviation Oil broke the downtrend resistance (upp red) today, we also saw China Aviation Oil opening and closing at the same price - $1.64, which may probably indicate that it has hit some resistance at that level.

If China Aviation Oil cannot break the 1.64 temporary resistance, we might see it consolidating at around the 1.60 level (mid purple meet upp red), before attempting to break it again.

If China Aviation Oil breaks the uptrend support (mid purple), we might see it receding back to the 1.50 psychological support (green ...).

For monday :

Support @ 1.608 (upp red), 1.57 (mid purple), 1.50 (purple ...)
Resistance @ 1.64 (4 apr opening/closing), 1.682 (upp purple), 1.75 (19 feb high)

Good Luck !!
Posted by at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)