Please excuse the crappy chart, I can't get IO price on Optuma.
Of course, it depends what grade you look at but they all have roughly the same trend and support/resistance levels.
In red, I've put 50% retrace levels of previous ranges. Price seems to be obeying the purple wedge, a further decline in IOP could see us around the blue box support area.
Moving forward, a breakdown of the $64 level (bottom of the blue box) could be really bad. If we break the $78 overhead resistance, we challenge the March 2017 highs.
IMO this could go either way.
Thoughts?
View attachment 1005247
