Noble Group 250209

Noble Group formed a double top on 7 jan (high of 1.26) and 12 feb (high of 1.25). Neckline for the double top looks to be at the 1.08 level (pink --), so that would give us a support from the double top to be about 90 cents.

Right now, Noble Group looks to be hanging on to the 0.995 support (blue...), which is quite a good support, and the volume bar shows too. Although its lows are higher, volume has been dropping over the past 3 days.

We could see Noble Group continue to trade within the downtrend resistance (mid red) and uptrend support (low blue) until some time next week when we could see some action for Noble Group as the downtrend resistance (mid red) meets the uptrend support (low blue) at the 1.04 neckline (green ....).


For tomorrow :

Support @ 1.02 (low blue, red ...), 0.995 (blue ...), 0.965 (low red, green --), 0.935 (red --)
Resistance @ 1.04 (green ...), 1.07 (mid red), 1.08 (pink --), 1.095 (midblue), 1.11, 1.15 (upp blue)