IPL has been in a nice uptrend making higher highs and higher lows. It has pulled back at the lower end of the parallel channel and showing signs of supportive price action. We may see a bounce off this support level of $2.20 - $2.35 zone for added confirmation that bulls may be taking over and take it higher. MACD is also about to cross which may be a sign that the selling pressure is coming to an end. Once bullish price action is confirmed, my target would be between $2.50 - $2.60 zone which could be a zone of resistance.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.