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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.

Saturday, August 30, 2008

Ferro China 290808

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.

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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 --)
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