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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, August 19, 2008

Ferro China 190808

Ferro China today gapped down and broke the 1.07 support (green --). It closed at 1.01, which is the price it hit back on 1 feb, which Ferro China then went on a fierce and steep rebound.

Would it be the same this time ?

For that to happen, we would first need FerroChina to recover above the long term downtrend support (mid pink) and the 1.07 support (green --), and stay above these 2 supports.

Otherwise, we might see Ferro China gradually heading towards the 0.90 level as indicated by the long term downtrend support (low pink).

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For tomorrow :

Support @ 1.01, 0.940 (low pink)
Resistance @ 1.04 (mid pink), 1.07 (green --), 1.11 (pink ...), 1.14 (red ...)
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