GMTUSD targeting $10.00
GMTUSD has developed a Parabolic Growth Channel on the 4H time-frame, similar to the long-term one of Bitcoin. In the past two candles, it appears to be staging a break-out from its All Time High. The last time it broke above an ATH following a consolidation, was in March 28 and initiated a rally. The RSI bounced well on its Buy Zone, so a break above the Resistance can send it to the next Fibonacci extension level of 4.0 ($3.90).
Based on the Parabolic Channel's top and the Fibonacci Time Zones, if every phase is double in duration, then the current one could top a little above the 5.0 Fib extension at $10.00 around May 04.
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Based on the Parabolic Channel's top and the Fibonacci Time Zones, if every phase is double in duration, then the current one could top a little above the 5.0 Fib extension at $10.00 around May 04.
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