Cosco 020109

After breaking the 1.00 resistance (red ...) on 30 dec, Cosco quickly reversed and lost all its gain the next day. Cosco even opened the new year with a break in the 0.930 support (pink --).

If Cosco fails to stay above the 0.930 neckline (pink --), we could see it weakening further, breaking the uptrend support (low blue), and even testing the 0.870 support (blue --).

Another scenario could see Cosco trading sideways between the 0.930 neckline and 0.975 resistance (green --). Any upside would probably be limited to the 0.990 level, where the downtrend resistance (upp red) meets the uptrend resistance (upp blue).


For monday :

Support @ 0.910 (low blue), 0.870 (blue --), 0.845 (lightblue ...), 0.835 (low red), 0.815 (red --)
Resistance @ 0.930 (pink --), 0.975 (green --), 0.980 upp blue), 1.00 (upp red, red ...)