Disclaimer

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.

Thursday, December 4, 2008

China Hongx 041208

I've updated the long term downtrend channel (red), as well as added a short-term downtrend channel (pink). As you can see from the chart, both of these resistances coincide with the 0.200 resistance neckline (blue --).

Moreover, the long term downtrend resistance (upp red) is also pushing China Hongxing towards the 0.190 support (lightblue --).

We could see some action tomorrow for China Hongxing. If it still fails to break the 0.200 neckline, we could see it revisiting the 0.180 support (lightblue ...).

Photobucket
For tomorrow :

Support @ 0.190 (lightblue --), 0.180 (lightblue ...), 0.177 (low blue, low pink), 0.170 (green --)
Resistance @ 0.195 (upp red), 0.198 (upp pink), 0.200 (blue --), 0.205 (upp blue), 0.215 (blue ...)
Posted by at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)