Long term GU rally
Updated
Bears have taken over on previous weeks as we see long wicks on weekly chart. However, bulls will take over around 1.2800 (area 1) known as a strong weekly S/r marked in the chart. This S/r is seen more on daily timeframe. Also near 61.8 fib level. If movement goes below 1.2800 area, we will not see a reversal between 1.26000-1.27000 (area 2) weekly S/r.
Comment
Pay more attention to upper wicks on weekly time frame that kept getting denied 1.32*** area.Disclaimer
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