I'm prepared to stick my neck out and state that BRM will not...

I'm prepared to stick my neck out and state that BRM will not close today below $2.69 and that it will start its climb back from that level.

I would be very surprised if we saw a close below $2.69 which represents (from my calculations) an exact 0.618 Fibonacci retracement of the range from the $1.85 low on 6 Nov 09 to the $4.05 high on 21 Apr 10.

I think we have seen the worst of it and, regardless of what further dips today might bring, the close will be at or above the $2.69 level. Let's hope the market sees things the same way. Fingers crossed!

Regards,
Bones