SHORT-TERM MOVEMENT OF #GMT & HOW THE SELLERS WOULD REACT!
GMT continues to move from the depths it has reached below the major support of 2023. As this zone is being attempted at reclamation of the previous major support. We can still see sell orders blocking this price action around 0.1670-0.1733. Although, this is more of a short-term block rather than a long-term one.
In the event the market shifts momentarily from a highly bullish to semi-bearish momentum. We can see this block to be happening. Albeit, if another scenario happens and the market continues to be extremely bullish. We can see that the breakout from this resistance will be imminent.
Stay wise, trade cautiously.
