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.

Tuesday, July 1, 2008

Ferro China 010708

Ferro China not only broke the 1.18 support (light blue --), it also broke the long term downtrend support (mid pink). FerroChina is now even more dire than before as it is trading closer and closer to the 1.11 support (red --).

If Ferro China breaks the 1.11 support, as well as the next long term downtrend support (low pink), we could see it testing 1.01 again, which is the low for 2008.

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For tomorrow :

Support @ 1.11 (red --), 1.077 (low pink), 1.01
Resistance @ 1.16 (low red), 1.17 (low pink), 1.18 (light blue --), 1.22 (blue --), 1.26 (upp blue, green ...)

Hope you find my analysis helpful. Thank you for your support !!
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