China HongX 260608

Although China Hongxing opened above the downtrend resistance (upp pink) and almost came close to testing the 0.485 resistance, the buying momentum could not be sustained and we saw China Hongxing closing right on the uptrend support (low green).

Tomorrow, we see the downtrend resistance (upp pink) and uptrend support (low green) meeting at the around the 0.468 level. If China Hongxing opens or trades below that level, we could see it testing the lower uptrend support (low blue).

Otherwise, we could see China Hongxing continue to trade sideways around the 0.465 level.



For tomorrow :

Support @ 0.465 (upp pink), 0.433 (low blue), 0.422 (low grey), 0.415 (low pink)
Resistance @ 0.470 (low green), 0.485 (red --), 0.494 (upp green), 0.513 (upp blue)

Hope you find my analysis helpful. Thank you for your support !!