After breaking below the $0.3690 level on May 7, $OM formed a new low—just 10 cents above the $0.35 level I had previously identified as the initial target. The question now is whether this marks a significant bottom. Based on the last two days of price action, I don't see any convincing signs that it is.

If the price drops further, I will need to reassess and adjust my analysis accordingly. I’m still holding my spot position opened at $0.38 and plan to continue accumulating gradually down to the $0.20 level.

To reiterate, I remain medium-term bullish but long-term bearish. It will likely take a considerable amount of time for $OM to rebuild investor confidence.