Disclaimer

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.

Sunday, January 4, 2009

Noble Group 020109

The 1.08 resistance (pink --) for Noble Group seems like a tough nut to crack. Noble Group tested it 5 times in dec but failed to break it. Would we see Noble Group breaking it successfully in 2009?

Noble Group continues to trade within the uptrend channel (blue), with the 0.935 support (red --) looking resilient as Noble Group last tested it before christmas. However, volume continues to be thin so we should be cautious of any upswing.

If Noble Group fails to break the 1.08 resistane (pink --), we could see it first retracing back to the 0.995 support (blue ...). Or we could continue to see Noble Group trade sideways between the 1.08 resistance and 1.04 support (green ...).

We could see some action for Noble Group towards the end of next week when the downtrend resistance meets the uptrend support (low blue) at around the 1.035 level.

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For monday :

Support @ 1.04 (green ...), 1.00 (low blue), 0.995 (blue ...), 0.972 (low red), 0.965 (green --), 0.935 (red --)
Resistance @ 1.06 (upp red), 1.08 (pink --), 1.09 (upp blue), 1.13/1.14
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