Noble Group 281108

Noble Group has been on the rise since hitting a low of 0.660 on 20 nov. It has also broken the long term downtrend resistance (low red) today, testing the 1.01 resistance (blue --) too.

Has Noble Group formed a double bottom? By the looks of things at them moment, I'd be tempted to say yes. But knowing the erratic and often unpredictable trading patters of Noble Group, we would have to at least wait until Noble Group breaks the 1.10 neckline (red --) before we can safely say it has formed a double bottom.

We could see some profit taking (not forgetting it has been on the rise for the last 6 days), with Noble Group trading between the 1.01 resistance (blue --) and 0.900 support (red ...).


For monday :

Support @ 0.965 (mid blue, green --), 0.915 (low red), 0.900 (low pink, red ...), 0.855 (blue ...), 0.795 (pink --), 0.740 (low blue, pink ...)

Resistance @ 0.995 (upp pink), 1.01 (blue --), 1.05 (green ...), 1.065 (upp blue), 1.10 (red --), 1.115 (mid red)