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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.

Tuesday, May 20, 2008

Olam 200508

After attempting to test the 2.96 resistance (blue --) for the umpteenth time, Olam finally broke the uptrend support (low green) today. Olam just about closed on the downtrend support (mid pink).

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The current pattern is quite similar to the one during the second half of April, where after Olam has broke out on 15 apr, it went sideways for about 2 weeks, before breaking out again on 6 may.

Will we see Olam repeat the pattern? We would first need Olam to break the 2.96 resistance (blue --).

For tomorrow :

Support @ 2.85 (mid pink), 2.75 (low pink), 2.74 (low red, red --)
Resistance @ 2.93 (low green, upp red), 2.96 (blue --)

Good Luck !!
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