A little more down, then watch for itI’m analysing GO Easy on the 30-minute time frame, focusing on three anchored VWAPs and several identified support levels. My expectation is for continued downside movement, with potential reversals at key areas of interest. I’ll be monitoring for a shift to higher highs at these levels before considering an entry.
In the short term, I anticipate that price action may test support-turned-resistance (or resistance-turned-support) zones, possibly with a liquidity spike. Following this, I’ll watch for interaction with the downtrend line, looking for a breakout and retest.
The longer-term outlook suggests the possibility of a cup-and-handle formation developing. However, in the short term, I’m focused on waiting for confirmation of a reversal on the 30-minute chart before making any trades.
