PIPP found some support just under historical resistance at 12.96
Trading slightly above range, and heading for a retest.
Bullish divergence/confluence on the RSI
First target if we broke above 12.96 would be 13.86 at the golden mean reversal fib, and above that id expect to see a retest of 15.32 where we would likely see some resistace at the orange trend line.
Full measured move would put us at the 1.618 fib or 17.68
If we fall out of trend, id be bearish on the downside of the current range.
Its important that we see the volume pick up as we retest 12.96, and the RSI remains on trend.
Lower time frame charts for confirmation.
Id personally stop out under 12.33 for a short term trade, but 12.20, and 12.02 would be another option for a little extra room.
Trading slightly above range, and heading for a retest.
Bullish divergence/confluence on the RSI
First target if we broke above 12.96 would be 13.86 at the golden mean reversal fib, and above that id expect to see a retest of 15.32 where we would likely see some resistace at the orange trend line.
Full measured move would put us at the 1.618 fib or 17.68
If we fall out of trend, id be bearish on the downside of the current range.
Its important that we see the volume pick up as we retest 12.96, and the RSI remains on trend.
Lower time frame charts for confirmation.
Id personally stop out under 12.33 for a short term trade, but 12.20, and 12.02 would be another option for a little extra room.