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.

Friday, October 3, 2008

Olam 031008

Olam today hit yet another lower bottom, testing the long term downtrend support (low pink) and almost tested the downtrend support (low red).

As mentioned on 30 sep, things won't look too well for Olam if it keeps forming lower bottoms. We may continue to see Olam trading within the downtrend channels (red, pink) for awhile.

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For monday :

Support @ 1.565 (low pink), 1.535 (low red)
Resistance @ 1.715 (mid red), 1.73 (upp pink), 1.80 (pink ...), 1.88 (pink --)
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