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, August 24, 2008

Olam 220808

20 aug was quite an important day for Olam. It was on this day that Olam broke several support trendlines with high volume (16m). Over the next few days, we saw Olam weakening further.

Olam also tested the long term downtrend support (low pink) today. If Olam breaks this support, we could see it testing the downtrend support (low red) and eventually hit the 1.80 level.

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For monday :

Support @ 1.88 (low pink, green), 1.837 (low red)
Resistance @ 1.96 (mid red), 2.04 (mid pink, pink ...), 2.09 (red --), 2.143 (upp red), 2.16 (green --)
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