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.

Thursday, May 22, 2008

Ferro China 220508

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.

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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 --)
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