Olam Ltd – Daily timeframe (Update from 28 Sept 16)
Current Sentiment: Bullish
Support 1: 2.010 Resistance 1: 2.100
Support 2: 1.960 Resistance 2: 2.130
Price continued to build a base off the 2.010 support area where it was heavily defended, keeping the uptrend intact.
There was a surge in volume on 19/10/16 that was accompanied by a hammer rejection off the support area. In addition, price forced a close back above the 20 day moving average suggests the bulls are still in control.
Expect price to head higher next to test the 2.100 resistance area followed by 2.130.
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