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GMT has broken out of a long-term falling wedge pattern and a resistance level of $0.22.
The $0.22 resistance level now acts as strong support for GMT.
Another long-term resistance level of $0.30 has been broken recently.
I emphasizes the significance of these resistance levels.
GMT has broken the lower bands of the Ichimoku Bish Cloud but struggles with the upper bands.
There's an inverse head and shoulders pattern forming, indicating a potential breakout of the Ichimoku Bish Cloud and neckline.
A recent trade signal yielded a 60% buying opportunity and a 21% increase on the four-hour chart.
The analysis highlights the resistance of a long-term downtrend line and the neckline of the inverse head and shoulders pattern.
It's expected that GMT will break out above the neckline instead of breaking down below the shoulder.
