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, April 5, 2008

China HongX 040408

After closing below the 0.650 neckline on 02 apr, China Hongx broke the uptrend support (upp purple) the nex day. Today saw China Hongx breaking yet another support (low purple).

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China Hongx still manages to trade above the downtrend support (upp green). If that support holds, we might see China Hongx consolidating around the 0.600 level.

However, if that support (upp green) breaks, we might see China Hongx testing 0.545 support (blue --) level.

For monday :

Support @ 0.613 (upp green), 0.580 (low pink, mid green), 0.560 (low red), 0.545 (blue --)
Resistance @ 0.650 (red --), 0.6675 (upp red, low purple),
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