GMT recently made a new all time high @$4.17.
Breaking the previous high @$3.85.
Price then created a double top on the 4hr,
lower highs on the oscillator and fell hard
from there. Similar scenario to
So now, what are we expecting??
If you said a pullback then you are correct! Friends
Before we get one, I personally would like to see
price tap our demand zone.
I will be looking to go long around that zone
especially after seeing lower time frame bullish
confirmations and watch price trade above $3.13.
A good 10-15% bullish run to 3.50 would be a nice
play and I would not hesitate to take most or all
profits at that level because we may see a run down
to 2$ based off our knowledge on fibonacci retracements.
On seeing bearish confirmations, I may take profits on
buys and hop into sells after the pull back is completed.
Wish us a successful trading week ahead.
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