RENKO CHARTS

[simplegreen]

RE:IPI...deeeg.. its not looking very rosy to me...I went to a 15 minute to get a handle on how its being bashed by broad market shorting and see that it moved from 45 to near 75 in Elliot Wave fashion...but the dip from 74 to 62 a bit excessive to be a bearish correction and looks now more like a trend reversal.The reason I say that is I am guessing that the move recently from the 62 dip back to 68 was actually a bullish correction in a bearish trend...Hope I am wrong if you are in..but I dont think uptrend can be trusted unless its trying to make a cup w/handle and that might well be whats happening....here is a 15 minute Renko