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 19, 2008

China HongX 180408

China Hongx failed to stay within the uptrend channel (blue) and also broke the 0.545 support (blue --). China Hongx also tested the downtrend support (mid red) but managed to close above it.

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To have any chance of testing the 0.610 resistance (blue ....) China Hongx would first have to maintain trading above the 0.590 level (green --).

If China Hongx continues to trade below the 0.590 level, and if it breaks the downtrend support (mid red), we might see China Hongx testing the 0.545 support (blue --).

For monday :

Support @ 0.576 (mid red), 0.560, 0.545 (blue --)
Resistance @ 0.590 (green --), 0.600 (low blue), 0.610 (blue ...), 0.630 (upp red, upp blue)

Good Luck !!
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