Stepn (GMTUSD) is about to form a Golden Cross on the 1D time-frame for the first time in its history. While this is a huge bullish development, it is the emerging Bullish Cross on the 1D LMACD that can send it to the 1W MA50 (red trend-line) and the top of the Bear Cycle Channel. A similar LMACD Bullish Cross below the 0 line on January 04 was what started the enormous +220% rally. We have a 1st Target at 0.9000.
If the bottom formation is an Inverse Head and Shoulders pattern, then we expect a test of the 0.618 Fibonacci level before summer, setting Target 2 at 1.35000.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.