Wednesday, May 27, 2015

Noble Group - Are we seeing a support breakdown as mentioned previously?

Let’s see if the 0.800 holds too. Price 0.805 now.

Sent: Friday, May 08, 2015 9:36 AM
Subject: **********************Noble Group - Consolidating dangerously above key support, price 0.835, note levels
From previous sell call, we have seen Noble Group still consolidating below the 0.900 psychological resistance for about a month. Support would be around the 0.82 – 0.825 level for now. Note that any futher breakdown below this support can see it trade down to the psychological 0.800 level. CFD SELL postions can be used to ride the downside on any breakdown. From a longer term outlook, 100 and 200 day MA line still pointing downwards firmly and downtrend intact. Not good below 0.800 where we can see it trade to find a new low to 0.76 then 0.70. May continue to consolidate above 0.82 too before a new direction seen. Note levels.

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