Weekend Analysis - Daily TF - GU - Bearish Continuation
Since the start of May, price has been increasingly bearish after it previously formed a Double Top on Institutional Level 1.265. The following 2 weeks, Price has continue to make a series of LL and LH formation with the Price respecting the EMA 14.
on 20th of May, Price has rejected the EMA 14 and seemingly formed a new LH formation with a Shooting Star. Thus, for the new trading week I'll be expecting further Bearish momentum to test the support at 1.215, 1.21 and a potential new LL formation.
on 20th of May, Price has rejected the EMA 14 and seemingly formed a new LH formation with a Shooting Star. Thus, for the new trading week I'll be expecting further Bearish momentum to test the support at 1.215, 1.21 and a potential new LL formation.