GALAUSD: Bullish divergence leading to the top of the Channel

Gala is trading inside a Channel Down every since the market top early this January and today the 1D technical outlook turned neutral (RSI = 46.626, MACD = -0.001, ADX = 48.052) as it is trading on the strongest 1D green candle since March. The 1D RSI bullish divergence (HL) shows a short term momentum shift and the price can now target 1D MA100 and the top of the Channel Down. We estimate at least a +50.35% rise from the bottom (TP = 0.01900).

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