$IO BEARISH REJECTION ZONE TEST
IO is trading at $0.633 after attempting to break higher but facing resistance near $0.643. Price action suggests sellers are active at this level, making it a potential rejection zone. If downward momentum builds, a corrective move toward support is likely.
Trade Setup (Short):
Entry Zone: $0.632 – $0.634
Target 1: $0.622
Target 2: $0.614
Stop Loss: $0.644
Market Outlook:
As long as IO remains capped below $0.643 resistance, the short-term outlook favors sellers. A confirmed rejection here could drive a pullback toward the $0.61–$0.62 support area before buyers attempt another recovery.
