Possible Moves- GU- Long and short oppurtunities

Looking at the GU price movements. The red line looks a good support zone where the price has tested many times and with one one false breakout and but most of the times price was supported at this level. Also the price has been in a donward movement following the trend line. The price has given a pin bar and 4 days the price got good support at the red line, and then buyers came into picture. The price may possibly try to test the trend line which is 50% fib level, Possible scenarios
1. If the price breaks and downtrend line and retest and it could move in upward direction
2. If the price doest not break the trendline and gets rejected from the 50% fib level we might see more seller pressure.


Let me know of your thoughts guys.
Trade safe

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