OBJ Chart Thread, page-199

Important break of the resistance today, now we look onto the weekly chart to give us a true strength indicator of the current action and whether the current action actually means anything.

To start the daily action has been encouraging, we had buying with a small retrace before tackling the 3.8-4c resistance and breaking through. If we look at the weekly chart we will start to see the current action is actually within the current down trend on the weekly chart so we are certainly not out of the woods yet and have only begun the war. The MACD on the weekly really wants to crack the 0 mark. It appears as though we will be facing big resistance at the 4.8cent mark as that is the down trend line which as been in motion since July of 2016 so well over a year now. If we can crack and push through the 5cent mark then that could actually signal the start of a new uptrend on the weekly so the 10cent mark will be on our crosshairs. So very important times now if we can't crack the 5cent mark then its back down we go for a possible lower low, OBJ is truly unpredictable so you can't discount that scenario. Anyway thats an update so lets see how we fair in the coming weeks shall we.