China Hongx 171008

After our discussion on 10 oct, China Hongxing tested the downtrend resistance (mid red) on 14 oct but failed to break it, and it closed on the 0.215 support (blue ...). The next day (15 oct) saw China Hongxing opening below the 0.215 support and breaking the crucial 0.190 support as well (lightblue --).

Also mentioned on 10 oct, we also saw China Hongxing almost testing the 20 feb 2006 low of 0.162 on 16 oct before covering to close on the 0.190 support again.

We should continue to see China Hongxing trade within the downtrend channel (red), more so as it has now broken the 0.190 support (lightblue --). We could even see it testing the 0.140 level as indicated by the downtrend support (low red).



For monday :

Support @ 0.160 (low red)
Resistance @ 0.190 (lightblue --), 0.205 (mid red), 0.210 (blue ...), 0.242 (upp red), 0.245 (pink --)