Olam 130608

After opening above the uptrend support (low blue), any chance of a rebound quickly evaporated as Olam again went below the uptrend support (low blue). Olam even broke the 2.48 support (blue ...), and almost close on the long term downtrend support (low pink).

If Olam opens below the 2.48 neckline (blue ...) on monday, we could see Olam breaking the long term downtrend support (low pink). We may also see Olam testing the 2.36 support (green ...) or even the 2.27 support (red ...).

If Olam opens above the 2.48 neckline (blue ...), we could see Olam trading withing the 2.48 support and 2.60 resistance (pink ...).



For monday :

Support @ 2.42 (low pink), 2.36 (low red, green ...), 2.27 (red ...)
Resistance @ 2.52 (upp red), 2.564 (low blue), 2.60 (pink ...), 2.62 (mid pink), 2.63 (pink --)

Hope you find my analysis helpful. Thank you !!