Wednesday, December 2, 2015

Yangzijiang: Rebounding from support as mentioned?

High seen at 1.13 today... Heading back to test 1.16 resistance?

Sent: Tuesday, 1 December, 2015 9:31 AM
Subject: ************** Yangzijiang: Back to consolidation, may have found a support zone.... price 1.11
Yangzijiang has traded for more than 2 weeks in the range of 1.08 to 1.16 after breaking below the support at 1.20 last month. Seems to have found a support base around the 1.08 level with buyers starting to accumulate near support. Those who have taken profit earlier can consider entry again by scaling trades in near 1.08 for a rebound back to 1.16 level. Any further breakout above 1.16 can pave the way back to 1.20 then 1.28 which was the high in October. Stop loss at 1.065 for now as a breakdown of this temp support may see more selling pressure towards the 1.00 level.

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