chartists!!, page-21

Make no mistake,
At the Tuesday close [17.11.09], the short term trend is still down.

The Fib. Retracement Levels are text book Fibonacci.
Strong Support is usually found at the 50% retracement level. [~2.35c]
If the 50% retracement level doesn't hold, the 61.8% level is usually tested. [~1.87c]
Typically the market will also dip below these levels while seeking support.
[ie Buyers position themselves below these levels]
OBJ has been aggressively sold off from the high of 4.4c.
It now needs to form a higher base and rally from there?
I am 'long term hold' on OBJ, so am not at all phased by retracements.
Cheers,
U2