Cosco 110608

As if seeing Cosco gapping down and breaking the downtrend support (mid red) at the beginning of the week wasn't enough, we saw Cosco breaking the 3.26 support (blue ...) and downtrend support (mid pink, low red) yesterday.

It was only today that we saw Cosco recovering a little. Although Cosco is now above the downtrend support (low red, mid pink), it closed just below the 3.26 support (blue ...).

If Cosco breaks the uptrend support (low blue), we could see it testing the 3.08 support (red ...), or even the long term downtrend support (low pink).



For tomorrow :

Support @ 3.19 (low red), 3.13 (mid pink, low blue), 3.08 (red ...), 2.94 (low pink)
Resistance @ 3.26 (blue ...), 3.29 (upp pink, mid blue), 3.32 (mid red), 3.36 (green ...), 3.40 (upp blue)

Hope you find my analysis helpful. Thank you !!