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.

Sunday, March 16, 2008

Olam 140308

Although Olam managed to break above the long term downtrend support (pink) on 12 mar, the next day saw it falling below the support (pink) and into the downtrend channel (red --).

Photobucket (Please note that the volume is wrongly indicated)

Olam has already tested the 2.00 level twice - on 10 and 13 mar. We might see Olam going sideways as the market tried to find its direction.

For monday :

Support @ 1.945 (low red --)
Resistance @ 2.133 (upp red --), 2.214 (pink), 2.294 (low red)

Good Luck !!
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