Noble Group continues to trade within the uptrend channel (blue), even testing the 0.795 neckline (pink --), uptrend resistance (mid blue), and downtrend resistance (mid pink), before ending the day below the long term downtrend resistance (low red).
Based on the volume distribution bars on the left, Noble Group also seems to have build up quite a support base at the 0.740 level (pink ...). However, we could see this base being severely tested in the next few days.
If Noble Group manages to hold onto this support, we could see attempt to break the 0.795 resistance (pink --) again. However, if Noble Group breaks the downtrend support (low pink), we could see it test the 0.685 support (red --).
For tomorrow :
Support @ 0.740 (pink ...), 0.7185 (low pink), 0.705 (low blue), 0.685 (red --)
Resistance @ 0.760 (low red), 0.795 (pink --), 0.803 (mid pink), 0.820 (mid blue), 0.855 (blue ...)
Tuesday, November 25, 2008
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