Answer: It's not at all unusual for broadleaf evergreens such as your olive to lose their older leaves. As long as the yellowing is restricted to the inner, older leaves, there's nothing to worry about. The lost leaves will soon be replaced. I wouldn't fertilize the tree; if you think the growth is slow or the color isn't quite right you can fertilize in March next year (when new growth is beginning). Best wishes with your landscape!
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