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Disclaimer:-Please note that all such analysis is provided by way of information only. All of the information was and should be taken as having been prepared for the purpose of reference only and that none were made with regard to any specific investment objective, financial situation or the needs of any particular person who may receive the analysis. Any recommendation or advice that may be expressed in or inferred from such analysis therefore does not take into account and may not be suitable for your investment objective.

Sunday, March 30, 2008

Ferro China 280308

Ferro China broke the short term 1.30 resistance level, and also managed to stay above it today. Looking at the chart, I've put the next resistance to be at the 1.44 level (red ...).

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If Ferro China can maintain trading within the 2 uptrend channels (light blue, green), we might see it testing the 1.44 level next week. If the uptrend cannot be sustain, Ferro China would probably drop to the 1.20 level.

For monday :

Support @ 1.284 (low light blue), 1.240 (mid green), 1.223 (mid pink --), 1.18 (low pink --), 1.116 (low green)
Resistance @ 1.345 (mid light blue), 1.394 (upp pink --), 1.409 (upp green), 1.44 (upp light blue, red ...).

Good Luck !!
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