Price is approaching the resistance created by a downward channel that was recently broken to the downside and a structure. There are two scenarios in my opinion: price will go down from here or the next structure above. Look for a rejection to the downside. Target is the nearest swing low. Tell me what you think.
Comment:
Very likely to be scenario 2 where it will hit the next structure.
Comment:
Price exactly hit the second structure and went down.
Comment:
Price went down to lower line of the channel and bounced back. It touched the upper line. Watch for a rejection to the downside. Make it or break it time for GU.