Ferro China 020508

What a week it has been for Ferro China ! From a high of 1.61 on 28 apr, to a low of 1.36 on 29 apr, then back up again to a high of 1.58 today. The ride was nothing short of a roller-coaster.



From the volume distributions bars on the left, you can see that there's quite a big chunk done around the 1.56 - 1.58 region. If FerroChina can break that big chunk, the next significant resistance looks to be around the 1.70 region.

If Ferro China is unable to break that big chunk, we might see it consolidating around the 1.50 - 1.52 region, where it shows quite a good support.

For monday :

Support @ 1.52 (mid light blue), 1.50 (light blue --), 1.48 (mid red), 1.44 (red ....), 1.39 (low light blue), 1.36 (low red, pink ...)

Resistance @ 1.57 (red --), 1.585 (upp light blue), 1.60 (upp red), 1.63 (upp pink)

Good Luck !!