Yangzijiang 180209

Have not been charting Yangzijiang for quite some time now. After forming a double-top on 11 dec and 7 jan, Yangzijiang broke the 0.475 neckline (blue --) and tumbled to a low of 0.415 on 3 feb.

Afterwhich, Yangzijiang failed to break the 0.475 neckline before dipping again, almost testing the 0.420 support (green --) today, before closing right on the 0.440 neckline (red ...).

You can see from the chart that the uptrend support (low blue) meets the 1st downtrend support (mid red) at around the 0.425 level. Therefore, the 0.425 level would be a crucial support.

If this support breaks, we could see Yangzijiang heading for the 0.405 support (green ...). Any upside would be limited to the 0.455 resistance (pink ...).


For tomorrow :

Support @ 0.430 (red --), 0.427 (mid red, low blue), 0.420 (green --), 0.413 (low red), 0.405 (green ...)
Resistance @ 0.440 (red ...), 0.455 (mid blue, pink ...), 0.460, 0.465 (upp blue), 0.475 (blue --)