22 June. Olam closed at 1.885. Back then, we discussed that the possible range for 25 – 29 Jun may be between 1.810 – 2.000, and a move below or above these levels may signify certain patterns in the making. However during 25 – 29 Jun, Olam ranged bound within 1.810 – 1.885. On 29 Jun, it closed at 1.810
2 July. We discussed that a move below 1.810 and 1.885 may signal further downside or further upside. Although it did move above 1.885 and indeed move higher, but it did not managed to move above 2.000. It only managed to move to a high of 1.915.
On 12 July, it closed at 1.840, which coincides with its 50-days moving average.