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Thursday, 28 June 2018

Olam International, Australia ASX All Ord and Commodities: 28 June 2018, Thursday, 9.43am Singapore Time

Olam International: 
28 June 2018, Thursday, 9.43am Singapore Time
(Click on Technical Chart above to Expand)

Attached above is the Technicals for Olam International, one of the major soft commodity companies in the world. Olam is being cushioned strongly by the moving average band of supports and the blue uptrend line support. The supports have been absorbing all market sells from anyone who wants to sell. This is very bullish in nature. The Funds Flow on Olam has been of very positive inflow. The technical price structure is as follows:

Long Term: Bullish (Uptrend)
Mid Term: Consolidation
Short Term: Correction

Additional Note:
USD has to resume big downwave soon. Donald Trump has managed to force Euro and Chinese Yuan to go down with it. China needs a money flood and suppressed interest rates to re-stimulate the Chinese economy now, which means even more Chinese Yuan flood. All these will result in commodities soaring up high. Already, Australia ASX All Ord has been ignoring the "trade war" almost totally.

Australia ASX All Ord:
28 June 2018, Thursday, 9.43am Singapore Time
(Click on Technical Chart above to Expand)

Prepare for commodities and crude oil (including banks) to lead the next large wave up in worldwide bull markets.

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