Nov. 13 at 2:03 AM
$GL: The current market context shows a last close of
$132.36, indicating a bearish sentiment as the price is below both the 30-day moving average (MA30) of
$134.91 and the 50-day moving average (MA50) of
$137.96. The RSI at 39.57 suggests that the asset is nearing oversold territory, which may indicate a potential reversal, but the overall trend remains bearish.
Directional bias is down, given the price's position relative to the moving averages and the recent high-low range. The 60-day high is
$147.83 and the low is
$127.85, indicating significant volatility.
Suggested entry:
$132.00, with a stop loss at
$130.00 to manage risk. Target 1:
$135.00 (near MA30), and Target 2:
$138.00 (near MA50).
This plan allows for a potential short-term rebound while maintaining a cautious approach due to the prevailing bearish trend.
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