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.

Saturday, March 21, 2009

Noble Group 200309

Are we looking at the beginning of another one of those surging runs of Noble Group?

Noble Group tested the 1.11 neckline (pink ...) today, as it broke and closed above the 1.08 resistance (pink --) for the 1st time since end feb.

As you can see from the chart, the lows of Noble Group continues to stay above the uptrend support (mid blue). We could see Noble Group trade between this support and the 1.11 neckline (pink ...) for the time being.

If Noble Group continues to trade within the uptrend channel, there's a great chance we might see it break the 1.11 neckline, maybe even by end of mar.

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For monday :

Support @ 1.08 (pink --), 1.06 (mid blue), 1.05 (green ...), 1.03 (low blue, red ...), 1.02 (blue --)
Resistance @ 1.10 (red), 1.11 (pink ...), 1.115 (upp blue), 1.13
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