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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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.