The closest Ferrochina came to testing the 1.44 psychological resistance (red ...) was on 2 apr, when it hit a high of 1.43. From the chart, we can see that Ferro China is still trading within the 2 uptrend channels (light blue, green).
Ferro China is getting closer and closer to the end of its double-bottom formation. If Ferro China can continue to trade within the uptrend channel (light blue) and break the downtrend resistance (upp pink --) next week, there's a high chance we might see Ferrochina testing the 1.44 psychological resistance (red ...) again.
Watch for volume too.
For monday :
Support @ 1.36 (low light blue), 1.346 (mid green, mid pink --), 1.28 (low green, low pink --)
Resistance @ 1.407 (upp pink --), 1.44 (upp green, red ...)
Good Luck !!
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