Olin ended the session at $51.51, continuing its bearish run

Olin's downtrend has seen it decline 4.04% in 3 days Yesterday's session continued the recent downtrend: the chemical products and ammunition manufacturer has recovered almost all of its session losses after dipping down to $50.95 yesterday.

Meanwhile, United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 172,400, while the previous figure was 162,600. Fresh CFTC Gold speculative net positions data from United States came out at 175,600. United States CFTC Nasdaq 100 speculative net positions released yesterday at 20:30 UTC with a figure of 8,800, while the previous figure was 8,500.

Olin Corporation reversed direction at $51.04 support zone and climbed 47 cents above it. Despite being in the red so far in the current trading session, Olin peaked above its 5 day Simple Moving Average around $51.72 — typically an early indicator of a new bullish trend beginning to emerge.

Technical analysis indicates that Olin (currently on a downtrend) might reverse course and start pointing upward in the short term.

Olin was not the only decliner in the materials sector; Linde went down 0.4%, closed at $362.21. BHP Billiton closed at $59.66 (down 0.58%).

The chemical products and ammunition manufacturer has fallen back around 19.94% over the past 4 months, from a notable high of $64.59.