Disclaimer

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.

Saturday, May 10, 2008

Ferro China 090508

After testing the 1.74 resistance (red --) three times without any success, Ferro China softened today, probably from profit taking.

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FerroChina came close to testing the downtrend support (low red) and uptrend support (mid light blue). If Ferro China breaks these 2 supports, we might see it testing the 1.57 support (blue --).

For monday :

Support @ 1.603 (mid light blue), 1.594 (low red), 1.57 (blue --), 1.55 (low pink), 1.50 (light blue --)

Resistance @ 1.706 (upp light blue), 1.725 (upp pink), 1.74 (upp red, red --)

Good Luck !!
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