China HongX 220508

We continue to see a lot of selling pressure on China Hongx, forcing it to open below the 0.635 support (green ...) yesterday. However, China Hongx managed to recover to close above the downtrend resistance (low red ...) yesterday.



However, selling continued unabated today, forcing China Hongx yet again to close below the 0.650 support (blue --) this time, which is also right on the downtrend support (upp red).

From the chart, you can see that the 2 downtrend resistances (upp pink, low red ...) converge around the 0.650 support in another day or two. So we might see some action either tomorrow or next monday. Provided of course, China Hongx does not break the uptrend support (low blue) and 0.635 support (green ...).

For tomorrow :

Support @ 0.641 (upp red), 0.635 (green ...), 0.630 (low blue), 0.610 (blue ...), 0.608 (low pink, low red)

Resistance @ 0.650 (blue --), 0.655 (low red ...), 0.660 (upp pink), 0.670

Good Luck !!