Cosco Corp has been supported above the 0.89 level since Mid March 2013 till last Friday. Currently at 0.885 level, low today was 0.88. A possible Short trading opportunity to take profit at 0.855 to 0.865 region. Note that trade opportunity is to be carried out under CFD and not a naked short on the cash market. Next support level at 0.855 level. Traders would who like to buy on dips can consider accumulating from 0.855 to 0.87 region and sell on any rebound in the cash market. Trading range is now 0.855 to 0.89, 0.89 has turned from support to resistance level.
Put a Buy stop at 0.905 if short trade is done.
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