Olam 250408

Olam tested the 2.74 resistance level (red --) on a few occassions this week but failed to break it. Olam just about managed to stay within the uptrend channel (green).



If Olam still does not break the 2.74 resistance next week, we might see it re-visiting the 2.60 support (pink ...). And if the 2.60 support also breaks, we would probably see Olam reverting to the 2.48 support (red ...).

However, if Olam manages to break the 2.75 resistance, we might see it testing the long term uptrend resistance (upp blue) and long term downtrend resistance (low pink).

For monday :

Support @ 2.68 (low green), 2.60 (pink ...), 2.50 (low red), 2.48 (red ...)
Resistance @ 2.74 (upp red, red --), 2.84 (upp blue), 2.865 (upp green), 2.90 (low pink)

Good Luck !!