GU has rallied above of 2020's high but seem to be lacking a bit of momentum to break the ascending triangle. With FOMC coming, we potentially may see DXY rallying which would cause GU to dip for corrective waves ABC after Impulse 12345 has been done on the daily. For bears, key levels to take note of is the resistance for the ascending triangle, if that breaks, bulls will take over. Bears can target 1.349 for the previous double top which also coincide with the bottom of the ascending triangle.
For Bulls, it's advisable not to buy now unless it breaks the top of the ascending triangle which it will then gain momentum to create another higher high. Otherwise, 1.349 might be good for a buy unless it breaks then bears will take over. Good luck.
For Bulls, it's advisable not to buy now unless it breaks the top of the ascending triangle which it will then gain momentum to create another higher high. Otherwise, 1.349 might be good for a buy unless it breaks then bears will take over. Good luck.