Ferro China 110408

After testing the 1.31 support (blue --) and uptrend support (low green) on 10 apr, Ferro China managed to recover and trade above the 1.31 support (blue --) and downtrend support (mid pink --).



If Ferro China can continue to trade within the uptrend channel (green, light blue), we might see it test the downtrend resistance (upp red, upp pink --) next week.

However, if Ferrochina breaks the 1.31 support (blue --) again, we might see it testing the next support which is at 1.21 (green --).

For monday :

Support @ 1.33 (low light blue), 1.31 (low red, low green, blue --), 1.30 (mid pink --), 1.26 (low pink --), 1.21 (green --)
Resistance @ 1.375 (mid green), 1.40 (upp light blue, upp pink --), 1.417 (upp red), 1.44 (red ....)

Good Luck !!