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.

Thursday, May 15, 2008

Olam 150508

After consolidating for much of the week around the 2.90 level, we now see Olam being 'pushed' into a corner.

Photobucket

The crucial level would be 2.88, where the downtrend resistance (upp red) and uptrend support (low green) meet.

If Olam breaks above the 2.88 level, as well as the 2.93 resistance (blue --), we could see Olam starting another uptrend movement.

However, if Olam trades below the 2.88 level, we could see it testing the 2.74 support (red --).

For tomorrow :

Support @ 2.87 (low green), 2.85 (mid pink), 2.82 (low red), 2.76 (low pink), 2.74 (red --)
Resistance @ 2.904 (upp red), 2.93 (blue --), 3.00 (upp green)

Good Luck !!
Posted by at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)