Needs to build up more steam! Doesn't have the power yet to push through!
If we can break to the upside, next target would be around the 0.62 area.
This week: three candidates for directionals and one nondirectional premium selling play ... . CPB: Although timing could have been better to catch the absolute bottom in this, implied volatility rank and background implied volatility remain quite high in this underlying (61/35). Given price weakness coupled with high implied volatility rank, I would think that...
So important to see what happens here as far as support is concerned!