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.

Sunday, June 29, 2008

Olam 270608

Olam couldn't hold onto the 2.60 support (pink ...) anymore and finally broke it today when it gapped down on opening.

We also saw Olam testing the downtrend support (mid red) before closing right on the 2.48 support (blue ...).

If Olam opens above the 2.48 support (blue ...) on monday, we could see it trading sideways for the time being.

However, if Olam breaks the long term downtrend support (low pink), we could see it testing the downtrend support (mid red), or even the 2.36 support (green ...).

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For monday :

Support @ 2.48 (blue ...), 2.46 (low green), 2.45 (low pink), 2.43 (mid red), 2.36 (green ...)
Resistance @ 2.58 (mid pink), 2.60 (pink ...), 2.61 (mid green), 2.63 (pink --), 2.67 (upp red), 2.715 (upp green)

Hope you find my analysis helpful. Thank you for your support !!
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