The recent breakout above the descending resistance aligns with a Fibonacci extension level, providing a confluence of technical validation for the $100 target. Fibonacci retracements and extensions are widely used by traders to identify high-probability price movements. With GT now trading above this critical level, the path of least resistance points higher, supported by improving momentum indicators like the StochRSI. This confluence of technical factors creates a compelling risk-reward setup for bullish positions.
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Disclaimer
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.