GU Weekly projection 25/01/2021

From the chart I would probably estimate the price to be on:

1. Downtrend for short term/immediate movement as the price on my daily chart indicate the bearish momentum heading down from the top BB to mid BB. It also happen on the 4H chart which showed the price retest the mid BB before expecting the candle to break the previous RBS

2. Uptrend for long term movement as the price is both placed above the 50EMA & 20EMA on my weekly chart. On top of it the price is rally towards the top BB on consistent uptrend movement

* its best to look for the price action before we take any position with proper RR and lot sizes. The chart is solely based on my observation towards technical perspectives. Any news or fundamental impacting the movement of market is beyond my comprehension