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OPHR daily 02/07/13

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OPHR is clinging on precariously to its channel support and is yet to close below it. Having said that, the possible higher low failed and there's yet to be another so the downtrend prevails for now.

There are, however, multiple bullish divergences (not only in the RSI shown) which suggests that the current move to lower prices is weak. Yesterday's inside bar broke to the downside intraday today but closed above the key level which also suggests there's little appetite for lower prices here.

I'll still wait for a higher low to form given the length of the downtrend and then I'll look to trade either that or the following 
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