Yangzijiang Triple Support Rebound

Rebound from triple support formed by

1. 20SMA

2. Dual support of upper blue channel boundary

3. 38.2% Fibonacci Retracement

Expect resistance at the light blue zone followed by a challenge of 1.57 peak if buying interest continues. Any weakness before reaching the light blue zone will retest the triple supoort again. Support failure here will retest the following probable support levels

1. 1.30

2. 50% Fibonacci Retracement

3. Green gap support zone

4. Blue channel dual lower support boundary

5. 61.8% Fibonacci Retracement

Stay alert and be nimble as market continues its high volatility swings.