On 6 Jan, I posted:
"GXC is not done... not yet.
Another 8-10% downside perhaps."
Thereafter, GXC surprised me with a run up and a higher low, breaking above the daily 55EMA twice. Only to fail the 55EMA on Friday, and following through today (Monday) with a deep gap down -3% at mid-day.
This is very bearish, and is likely to have a lwoer low with a spike down into or near to the Buy Zone. The Chinese Lunar New Year happens Next week Tuesday, and it really looks like about 2 more weeks of downdraft.
The long range analysis appears to hint of a reversal cycle about to restart... and could not be better than after the Chinese Lunar New Year celebrations. Meanwhile, waiting for that lower low...
"GXC is not done... not yet.
Another 8-10% downside perhaps."
Thereafter, GXC surprised me with a run up and a higher low, breaking above the daily 55EMA twice. Only to fail the 55EMA on Friday, and following through today (Monday) with a deep gap down -3% at mid-day.
This is very bearish, and is likely to have a lwoer low with a spike down into or near to the Buy Zone. The Chinese Lunar New Year happens Next week Tuesday, and it really looks like about 2 more weeks of downdraft.
The long range analysis appears to hint of a reversal cycle about to restart... and could not be better than after the Chinese Lunar New Year celebrations. Meanwhile, waiting for that lower low...
