Wednesday, January 13, 2016

Yangzijiang: Indeed a Breakdown below 1.00 key psychological support as mentioned !

More weakness towards 0.90 target now ?  J price at 0.975

Sent: Friday, January 08, 2016 9:21 AM
Subject: ************** Yangzijiang: Back to near 1.00 support... price 1.02
From yesterday’s call, Yangzijiang has broken the 1.05 support and indeed traded lower to the critical 1.00 psychological support. This is also a key level to watch where we can expect some buy ups. Range has been lowered to 1.00 to 1.05 now. ANY firm SELL DOWN below 1.00 can open a new with wave of selling pressure, putting an end to the sideway consolidation for more than 2 years. We can then expect a move to 0.90 then 0.80, cfd sell can be used to ride the down with a clear breakdown. Other than that, cautious any long positions above 1.00 where we can see a technical rebound back to 1.05 first.

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