Cosco 090508

Cosco looks to be consolidating this week, trading more or less within the 3.26 suport (blue ...) and 3.48 resistance (blue --).



From the chart, we can see that the long term downtrend resistance (pink), meets the uptrend support (green), at 3.40 next week.

If Cosco can trade above the 3.40 level next week, we might see it attempting to break the 3.48 resistance (blue --).

If Cosco fails to break the 3.40 level, we would most likely see Cosco consolidate at a lower level, nearer to the 3.26 support (blue ...).

For monday :

Support @ 3.274 (low red), 3.26 (blue...), 3.20 (low blue)
Resistance @ 3.40 (pink, green), 3.43 (mid red), 3.45 (upp blue), 3.48 (blue --), 3.53 (upp red)

Good Luck !!