Validation rule on date field

I've been trying to create a validation rule which will prevent an opportunity being saved when the field contract end date is blank and the type is selected to be "Renewals"

I've tried the below:

AND(

ISBLANK( Contract_End_Date__c ),

ISPICKVAL( Type , 'Renewals')

)

however, I'm still able to save the form.

What am I missing? Please help!