Heading towards 1.00 now?
Sent: Friday, August 21, 2015 10:35 AM
Subject: ******** Yangzijiang: Trading cautiously above 1.10 support, careful of further breakdown, price 1.115
Subject: ******** Yangzijiang: Trading cautiously above 1.10 support, careful of further breakdown, price 1.115
As mentioned in previous sell call, we are see some weakness in Yangzijiang as it approaches the 1.10 psychological support level. Range would now be lowered again from 1.10 to 1.14. As long as 1.14 – 1.15 remains as the new resistance now, still bearish in the short term with CFD SELL positions possible. Any further breakdown below 1.10 can see it trade to 1.05 – 1.06 level so cautious any long positions.
Sent: Wednesday, August 19, 2015 10:33 AM
Subject: ******** Yangzijiang: temp support failed to hold as well, price 1.14, cautious long
Subject: ******** Yangzijiang: temp support failed to hold as well, price 1.14, cautious long
Following up from previous sell call, we have seen Yangzijiang broke below the temp support at 1.15- 1.16 today again on top 20 volume. This is not a good sign with 20 DAY MA line crossing below both the 100 and 200 day MA line negatively. Trend direction may reverse downwards and there can be more legs to the downside with it heading towards 1.10 next support now. Breaking below 1.10 can pave the way to 1.05- 1.06 further. Cautious long position, CFD SELL. MACD indicator still trending lower with no recovery in sight.
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