After breaking the 0.985 support (blue --) on 25 aug, we saw Ferro China almost testing the long term downtrend support (low pink). We did see FerroChina breaking the support the following day (26 aug) but it seems Ferro China found some support at the 0.890 level (lightblue ...).
We could be looking at FerroChina attempting to consolidate around the 0.890 - 0.900 levels next week, provided it doesn't break the 0.890 support (lightblue ...).
If the 0.890 support breaks, we could see Ferro China testing the 0.800 level.
For monday :
Support @ 0.890 (lightblue ...), 0.885 (upp red), 0.875 (low pink), 0.820 (low red)
Resistance @ 0.915 (green --), 0.930 (lightblue --), 0.945 (mid pink), 0.985 (blue --)
Saturday, August 30, 2008
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