COSCO CORP CHART - Broke support at 1.78 before pulling back to test 1.71 again... 1.71 is the support formed in Jun and July 2011...

Traders can consider getting some around support level from 1.70 to 1.72 level to trade back any rebound.... If this support level breaks, it can head lower to 1.60 then 1.52.. please put a stop at 1.685

Selling probably due to this news: China Shipping Container Lines will make a loss in the first half, as will the three big Japanese carriers and Vietnam’s Vinalines. In fact, we would be surprised if anyone made money.  Let’s stay with CSCL and use it as an example of how the lines are struggling along. CSCL is China’s second largest container carrier, second only to Cosco Container Lines. It is state owned and the majority of its trade is on the main transpacific and Asia-Europe routes.

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