China Sky 040408

After breaking the 1.10 psychological resistance turned support (blue ...) on 1 apr, China Sky seems to be trading sideways for the last 3 days, testing the downtrend resistance (upp pink --) but closing below it.



Would be interesting to see if China Sky can hold on to its 1.10 psychological support (blue ...) next week. If this support breaks, we might see China Sky receding back to the 0.95 to 1.00 support level.

If China Sky continues to trade within the uptrand channel (green) and break the downtrend resistance (upp pink), we might see China Sky testing the 1.35 neckline (red ...).

For monday :

Support @ 1.10 (blue ...), 1.077 (low green), 0.976 (upp red, low pink --), 0.927 (low pink)
Resistance @ 1.115 (upp pink --), 1.232 (upp green), 1.30 (upp pink), 1.35 (red ...)

Good Luck !!