Friday, February 5, 2010

Noble Group Technical Analysis

As we can see, Noble broke the multi-month channel support, and is now supported by the 100 MA. If the 100 MA breaks.... next support would be at the 2.50 region, the previous low (not indicated in chart). By then, the 200 MA would probably be around the region as well...

Let's see how it goes on from here. Obama's speech is clearly bad for commodities and stocks related to it.

Any rebound will likely be capped by the support likely turned resistance channel.

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