Gala with a nice rally and pushing up to 7 cents.
A minor s/r flip with resistance right above from the low made in May, at $0.065 ish which I expect to continue to act as stronger support with choppy-ness below until I see a decisive break above it.
The bullish case is that support being built as this progresses up and gets further away from our major low made in July, but these support levels will be tested again IMO.
I like GALA long-term too, but for now I will be with-holding any DCA-ing capital as I think we'll get better opportunities (not bearish), just waiting for a correction after this rally even if we go way higher.
In the meantime, could easily play a short position at resistance or wait for a break above and retest to go long - shorter term.
Goodnight Folks!
V
A minor s/r flip with resistance right above from the low made in May, at $0.065 ish which I expect to continue to act as stronger support with choppy-ness below until I see a decisive break above it.
The bullish case is that support being built as this progresses up and gets further away from our major low made in July, but these support levels will be tested again IMO.
I like GALA long-term too, but for now I will be with-holding any DCA-ing capital as I think we'll get better opportunities (not bearish), just waiting for a correction after this rally even if we go way higher.
In the meantime, could easily play a short position at resistance or wait for a break above and retest to go long - shorter term.
Goodnight Folks!
V
Comment:
Resistance clearly still significant, rejected off. A great short opportunity as I had said above. Now as I mentioned I'd expect choppy action until a decisive break.
Vatsik