Raffles Education continues to move sideway for the past 5 months. Next immediate support is at $0.265, followed by $0.164 (123.6% Fibonacci Retracement Level). Note that RafflesEdu is on long term down trend as 200D MA is slopping down.
Have observed several Elliott Wave Patterns in China HongXing. The attached China HongXing charts have shown two complete Elliott Wave patterns (Wave 1 – 5, Wave A, B, C) previously. Now China HongXing is showing the another potential Elliott Wave pattern showing the Wave 4 in formation. If you believe in Elliott Wave pattern and believe the history may repeat itself, you should be able to predict the next movement by studying how the Wave 5 performed on the previous two occasions.
Past two Wave 5 performance:
So, next performance? From $0.175 to ???? in ?? weeks?
Look at the China HongXing chart and make your prediction!
Welcome to post your prediction here!
Straits Asia Resources has been climbing up steadily since the breakout from the Falling Wedge.
The current uptrend is still intact with the uptrend support at $2.20 (which is also a 50D MA support). SAR has moved above 20D MA, 50D MA and 200D MA.
