China HongX 290808

China Hongxing did reverse its downtrend after the Dragonfly Doji on 26 aug, recovered a little to break the 0.375 resistance (lightblue ...) and closed right on the 1st long term downtrend resistance (mid grey) today.

However, given the recent market sentiments, it remains to be seen if China Hongxing can maintain this uptrend momentum. If China Hongxing can open at 0.375 or above (mid grey, light blue ...) on monday, and stay above the 0.375 level, the chances of maintaining this uptrend momentum would be good.

If China Hongxing opens below the 0.375 level, or breaks the uptrend support (low blue), we could see it revisiting the 0.355 support (pink ...).



For monday :

Support @ 0.380 (mid blue), 0.375 (mid grey, light blue ...), 0.365 (low blue), 0.355 (pink ...)
Resistance @ 0.400 (upp blue), 0.405 (lightblue --), 0.410 (upp grey), 0.425 (red ...)