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 29, 2008

Ferro China 280508

After testing the 1.55 support (blue --) at the beginning of the week, Ferro China finally broke it yesterday, which also saw it breaking below the 1.52 support (light blue --), before closing right on it.

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Today, we saw FerroChina opening below the long term downtrend resistance (mid pink), again breaking below the 1.52 support before closing right on it.

If Ferro China breaks the 1.52 support (light blue --), we might see it testing the 1.44 support (red ...).

For tomorrow :

Support @ 1.52 (light blue --), 1.51 (low blue), 1.45 (low pink), 1.44 (red ...)
Resistance @ 1.538 (mid pink), 1.55 (blue --), 1.586 (low red), 1.617 (upp blue), 1.645 (upp pink)

Good Luck !!
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