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.

Wednesday, April 2, 2008

Olam 020408

Olam not only opened above the 2.18 psychological resistance (red --) today, it also broke the long term uptrend resistance (blue). Olam also tested the downtrend resistance (upp pink), and closed right on the trendline.

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If Olam can open and stay above the long term downtrend resistance (upp pink), and continue to trade within the uptrend channel (green), we might see it test the next resistance at the 2.47 level (red ...).

For tomorrow :

Support @ 2.248 (upp pink), 2.223 (mid green, blue), 2.18 (red --), 2.11 (red), 2.09 (low green)
Resistance @ 2.373 (upp green), 2.47 (red ...)

Good Luck !!
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