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.

Sunday, May 25, 2008

Yangzijiang 230508

After testing the 1.15 resistance level on 5 may, Yangzijiang didn't last long and came back down to earth on 9 may. Thereafter, it has been downhill for Yangzijiang ever since.

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After trading sideways for about a week, Yangzijiang finally broke the 1.08 support (green --) on 21 may.

Today, further selling pressure pushed Yangzijiang down and it broke the uptrend support (low green), downtrend support (mid red) and also the 1.08 support (red --).

The next support based on volume distribution for Yangzijiang would be around the 0.985 level (blue ...).

For monday :

Support @ 0.985 (blue ...), 0.940 (low red, blue --)
Resistance @ 1.01 (mid red, red --), 1.02 (low green), 1.07 (upp red), 1.08 (green --)

Good Luck !!
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