With news out this morning confirming the previous cutting confirming the presence of oil it gives a chance to run up and fill the gap to up to 3.10.
Additionally we have been trading in the Fibonacci bank 0-23.6%, opening up higher this morning could also signal a run up to 3.28, retracing to the 61.8% level and in doing so also filling the gap
IVR CLOSING ABOVE 4.00
I think the one to watch that’s going to breakout RKT is Invesco Mortgage capital (IVR) it has buy signals from both short and long-term moving averages also there good buy signal where the short-term average is above the long-term average.
It’s got support at 3.65 and 3.14 and is right up at the top of the channel at 4.00.