GM Testing Weekly Resistance While Holding Above the 200 EMAGM continues to trade within a strong long-term uptrend, maintaining a position well above its rising 200-week EMA, which remains a key indicator of underlying bullish momentum.After its powerful breakout from the late-2025 base, price has entered a consolidation phase between $74.90 support and the $84.00-$84.24 resistance zone. The recent pullback successfully respected the $70.33-$70.97 demand area, preserving the series of higher lows that defines the current bullish structure.
Key levels to watch:
Resistance: $84.00-$84.24
Breakout confirmation: Above $84.24
Upside targets: $87.62, $96.67, and $101.40
Near-term support: $74.90
Major demand zone: $70.33-$70.97
Long-term trend support: 200 EMA
Bullish structure invalidation: Weekly close below $67.05
The current price action appears to be forming a consolidation pattern beneath resistance. A decisive weekly breakout above the $84 area could trigger the next leg higher toward $87.62, while sustained strength above the rising 200 EMA continues to favor the bulls.
As long as higher lows remain intact and price stays above major support, the longer-term trend remains constructive.
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