Cosco 311008

Cosco has managed to recover somewhat from its low of 0.605 on 17 oct. Although Cosco tested several downtrend resistances today, it still closed below them, especially the long term downtrend resistance (low pink).

It would be important to see if Cosco can maintain trading within the short-term uptrend channel (blue) which I've just added. Of more importance would be to stay above the 0.765 level, where the long term downtrend resistance (low pink) meets the uptrend support (low blue).

If Cosco can break the 0.890 level (upp red meets upp blue), next resistance can be seen around the 0.985 neckline (red ...).



For monday :

Support @ 0.762 (low pink, low blue), 0.755 (blue ...), 0.733 (mid red), 0.681 (low red)
Resistance @ 0.800 (red --), 0.870 (upp blue), 0.903 (upp red), 0.985 (red ...)