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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.

Tuesday, September 2, 2008

China HongX 020908

China Hongxing closed right on the long term downtrend resistance (upp grey) as well as the 0.405 resistance (lightblue --). However, the uptrend for China Hongxing (blue channel) is still intact.

We could see China Hongxing continue to trade between the uptrend support (mid blue) and 0.405 resistance (lightblue --), before it attempts to break the 0.405 resistance again.

Any break out would probably be limited by the uptrend resistance (upp blue).

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For tomorrow :

Support @ 0.400 (upp grey), 0.390 (mid blue), 0.375 (low blue, lightblue ...), 0.365 (mid grey)
Resistance @ 0.405 (lightblue --), 0.410 (upp blue), 0.425 (red ...), 0.440 (blue --)
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