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, July 3, 2008

Ferro China 030708

After testing the 1.11 support (red --) yesterday, Ferro China finally broke it and even closed right on the downtrend support (low red) today.

The chance of FerroChina hitting the 2008 low of 1.01 has increased, and it will increase even further if Ferro China breaks the 1.05 support (red ...). Looking at the way things are going, it's just a matter of time.

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For tomorrow :

Support @ 1.09 (low blue), 1.07 (low red), 1.06 (low pink), 1.05 (red ...), 1.01
Resistance @1.11 (red --), 1.13 (mid red), 1.15 (mid pink), 1.18 (upp blue, light blue --), 1.22 (blue --)

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