GRT finds itself at two intersecting resistances.
First is the June 2022 lows, and the second is the year old diagonal.
If we get a close above those two intersecting resistances, then I think it's reasonable to target ~30c.
First is the June 2022 lows, and the second is the year old diagonal.
If we get a close above those two intersecting resistances, then I think it's reasonable to target ~30c.
Comment:
So far, so good. We've closed above both diagonal and horizontal resistance, and came down to retest them. They're now acting as support, but I expect heavy volatility this week, and wouldn't be surprised if we wick below.
If it closes below on the daily chart, but the weekly closes back above, that's bullish. Closing below on the weekly is not good.
So far, so good. We've closed above both diagonal and horizontal resistance, and came down to retest them. They're now acting as support, but I expect heavy volatility this week, and wouldn't be surprised if we wick below.
If it closes below on the daily chart, but the weekly closes back above, that's bullish. Closing below on the weekly is not good.
Comment:
Keeps chugging along as I hoped it would.
Keeps chugging along as I hoped it would.
Comment:
Out of GRT. Rotating to FIL. Same setup.
Comment:
Update
Bullish weekly close. In the bear market, these breakout plays turned out to be scams, usually. In other words, bulls were lured in, and then slaughtered, but if we're now in a new regime (the echo bubble thesis), then this breakout should play exactly as it looks...