So this one could go either way and I have indeed wavered back and forth. The technicals could be taking it either way and i will analyze them in a moment but lets look at this new piece of news.

The release of the iPhone in China -- which has 687 million wireless subscribers, more than twice the population of the U.S. -- is expected to be a boost for both Apple and Unicom, one of three Chinese state-owned telecommunications carriers. Still, the two companies face challenges to realizing the iPhone's potential in China, including competition from similar devices, and they left several questions about pricing and other details unanswered Friday.
Under the three-year deal, iPhones will start to be sold in China in the fourth quarter. Unicom won't share revenue with Apple, as some operators do, and it will purchase the handsets from Apple on a wholesale basis and resell them to consumers, the Chinese company said. Unicom Chief Executive Chang Xiaobing said it will offer a subsidy to customers to lower the iPhone's price, but he didn't elaborate on how much the subsidy would be. An Apple spokesman confirmed the Unicom deal but declined to give further details.