ðĨ GALA Falling Wedge: Bullish Break Out Looming?
Recently I made an analysis on GALA. In the analysis below I wrote that I expected GALA to see more downward pressure after breaking through an important support level around $0.18.
With my target area reached and a bullish initial reaction to the FED interest rate decision, it's time to check back at GALA's chart.
Seeing this chart, we can spot a falling wedge pattern. Falling wedges are classically bullish reversal patterns, so that's where were looking today. GALA sold off significantly, so at the moment I see more upside than downside.
The top of the pattern will function as a strong resistance. We either break out or reverse from it to try it again at a later date. Mid-term targets are $0.2 and $0.25
With my target area reached and a bullish initial reaction to the FED interest rate decision, it's time to check back at GALA's chart.
Seeing this chart, we can spot a falling wedge pattern. Falling wedges are classically bullish reversal patterns, so that's where were looking today. GALA sold off significantly, so at the moment I see more upside than downside.
The top of the pattern will function as a strong resistance. We either break out or reverse from it to try it again at a later date. Mid-term targets are $0.2 and $0.25
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