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, January 4, 2009

Olam 020109

Since 9 dec, Olam has been trading more or less sideways (other than the surge on 22 dec), between the 1.13 support (red ...) and 1.22 resistance (pink --). However, volume has been very low since christmas.

We could see some action for Olam in the middle of next week when the downtrend resistance (upp red), meets the uptrend support (low blue) at around the 1.18 level.

Any break in the 1.13 support could see Olam revisiting the 1.06 support (blue ...).

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For monday :

Support @ 1.19 (upp red), 1.17 (pink ...), 1.16 (low blue), 1.15 (blue --), 1.13 (red ...), 1.09 (red --), 1.08 (low red)

Resistance @ 1.22 (pink --), 1.227 (upp blue), 1.25 (green --), 1.30 (lightblue ...)
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