$OM Technical Update – Short-Term Price Outlook
OM has shown impressive strength in the past few hours, bouncing from the $0.3690 level and pushing up to a local high of $0.4130. It's currently trading at $0.3984, consolidating just below the 7-period moving average on the 1-hour chart.
Key Technical Highlights:
RSI (7): 60.2 – indicating mild bullish momentum
Volume: Spike observed during the breakout, suggesting strong interest
Moving Averages:
MA(7): $0.3990 (immediate resistance)
MA(25): $0.3902 (support)
MA(99): $0.4140 (strong resistance)
What's Next?
If OM breaks above the $0.4000 psychological level with volume support, we could see a move toward $0.4140 and possibly extend to $0.4300. However, if it fails to hold current support, a retest of $0.3900 or even $0.3830 is likely.
Trade Idea (Short-Term):
Buy Zone: $0.3900–$0.3950
Target: $0.4140 – $0.4300
Stop Loss: Below $0.3830
Watch for volume confirmation on any breakout.
Stay sharp and trade smart.