I was not able to upload my blog because i was not feeling well for past 3 days. Despite knowing what has happened for Noble Group for the past two trading days (23 and 24 July), I think there is still some value in discussing about this counter.
12 July 2012: We discussed about the possibility of daily Bearish MACD crossover. The failure to stay above 1.13 setup the alternative scenario of 1.07 - 1.09, offering relative better risk-reward ratio.
As shown on the chart dated 20 July, crossing below the Median Line of the downtrend Andrew's Pitchfork (i.e the price cross below 1.065) signal the possibility of testing the lower bound of Andrew's Pitchfork (which may coincides wth the level of 1.00 - 1.02), having 1.040 - 1.050 (offering possible support).
As you may have know on 23 ......
