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.

Wednesday, January 28, 2009

China Hongx 280109

After trading sideways between 0.190 and 0.180 for the last few days, we saw China Hongxing forming a Gravestone Doji on 23 jan. Usually, a Gravestone Doji indicates a trend reversal, and since the prior trend was down, we could be looking at a small rebound.

Any uptrend could be limited by the uptrend resistance (upp blue) and the 0.200 neckline (blue --), which is also where the downtrend resistance (upp pink) meets. However, the 0.190 barrier (lightblue --) looks to be quite a formidable one.

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For tomorrow :

Support @ 0.185 (red ...), 0.182 (low blue), 0.180 (lightblue ...)
Resistance @ 0.190 (lightblue --), 0.195 (red --), 0.200 (upp blue, blue --), 0.205 (upp pink, green --)
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