Olam: Down Trend Continues

An Evening Star Candlestick pattern was observed at the 50% Fibonacci Resistance a few days ago. As expected, Olam reversed to down trend after the rebound. Current support is $2.645 followed by $2.471.

Note: Olam is currently trading below 20D, 50D and 200D MA. The 20D MA has also crossed down 200D MA which is a bearish chart pattern.

Leave a Reply