After unsuccessfully breaking the 1.74 neckline (red --) 2 weeks ago, the closest Ferro China came to testing the neckline again was on 15 may when it hit a high of 1.72.
Since then, FerroChina have softened and is now trading closer and closer to the uptrend support (mid light blue). If Ferro China breaks the uptrend support (mid light blue) and downtrend support (low red), we might see it testing the 1.57 support (blue --).
For tomorrow :
Support @ 1.61 (mid light blue), 1.59 (low red), 1.57 (low pink, blue --)
Resistance @ 1.68 (upp pink), 1.71 (upp light blue), 1.73 (upp red), 1.74 (red --)
Thursday, May 22, 2008
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