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GJ Update: Drop After Retesting The Resistance
Atualizado
As you see in the 4H time frame, price is in a downtrend and currently it is retracing the previous bearish move.
There is a resistance zone between 166.800 - 167.400 which has been hold the price for a while.
Moreover, we can see the weakness on the bullish candles and log upper shadows which indicate the bulls are getting rejected and there is more bearish push.
We might see more upside push around the resistance zone, but I expect a drop on GJ towards the green level which is the last low at 163.700 and in the case of an downside breakout on this level, we might see more fall but I will update the analysis then.
What is your opinion about GJ? Feel free to share your ideas in the comments.
There is a resistance zone between 166.800 - 167.400 which has been hold the price for a while.
Moreover, we can see the weakness on the bullish candles and log upper shadows which indicate the bulls are getting rejected and there is more bearish push.
We might see more upside push around the resistance zone, but I expect a drop on GJ towards the green level which is the last low at 163.700 and in the case of an downside breakout on this level, we might see more fall but I will update the analysis then.
What is your opinion about GJ? Feel free to share your ideas in the comments.
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