GALAUSD Strong long-term Buy.

Gala (GALAUSD) has hit both targets (0.06200 being the last) since our last call (October 26 2023, see chart below) and has established itself above the 0.382 Fibonacci retracement level:

All MA periods have turned into Support levels, obviously the 1D MA50 (red trend-line) is the closer (short-term) one and a Higher Highs trend-line poses as the Resistance. Naturally, the new Bull Cycle aims on each and every Fibonacci retracement level upwards.

As long as the price actions stays under the Higher Highs trend-line, we can see it following a structurally timed rise with clear pull-backs (red Rectangles) and growth patterns (green Rectangles) that can potentially double each time.

As a result we set Target 1 on the 0.618 Fib at 0.17000. If at any point in time, the price closes above the Higher Highs, we will instead aim higher on the 0.786 Fib at 0.3500.


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