GU Short Idea
GU and GJ have been rising nicely this week and I see the 1.27 area of GU being a key area of interest to look for a potential short.
Resistance @ 1.27:
- 618 Fib level of 13 Dec 19 high to 20 Mar 20 low
- 786 Fib level of 10 Jun 20 high to 30 Jun 20 low
- Gann Line crosses through
- Cypher completion zone
- Green trendline support retest
COT data currently shows a net short position with a neutral week this week in terms of leveraged adding equal amounts of long and short. This weeks COT data may give more of an insight as to what next week may bring.
Resistance @ 1.27:
- 618 Fib level of 13 Dec 19 high to 20 Mar 20 low
- 786 Fib level of 10 Jun 20 high to 30 Jun 20 low
- Gann Line crosses through
- Cypher completion zone
- Green trendline support retest
COT data currently shows a net short position with a neutral week this week in terms of leveraged adding equal amounts of long and short. This weeks COT data may give more of an insight as to what next week may bring.
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