COSCO approaching support level at 7.56

It was last January 27 when we saw COSCO continue to fall and until today it has not recovered yet. Our immediate support is at 161.8% Fibonacci Retracement level. If there will be a good candlestick pattern that will be formed at this level then we might see it bounce, otherwise it will continue to dig its own grave. Ichimoku system is telling us that it is still in a downward trend.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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