Noble Group: Support did not hold as mentioned last week....... Now 0.465

Did you manage to participate in the sell down?

Sent: Thursday, 10 September, 2015 11:22 AM
Subject: ********* Noble Group: Back to support level... price 0.51, cautious downside below...

As mentioned previously, note that any breakdown below the 0.50 -0.51 support level can see more weakness as a breakdown to recent consolidation phase back to 0.44 then 0.40. Cautious any long position below this support. Seeing some weakness in commodities prices again.

Sent: Thursday, 3 September, 2015 9:56 AM
Subject: ********* Noble Group: Back to consolidation after breakout.... price 0.53

Noble Group has traded in the range of 0.51 to 0.56 over the past 1 week as Noble attempts to break above the 0.55 – 0.56 resistance level firmly. Still trading above the 20 day MA line at current level which would serve as a support but note that any breakdown back below 0.50 – 0.51 can see head back lower again to the recent low at 0.40 – 0.405. CFD SELL can be used on a breakdown of temp support now. Mid to long term trend still down so more inclined towards the downside if key resistance levels are not breached. More confirmation needed though. Noble has still been trading below the downward sloping channel support line which shows that trend still a negative, need to be careful for trades in the long position against dominant trend which is down and commodities prices still weak worldwide.