GXY has completed a re accumulation trading range which enables us technicians to take a PnF count/counts to estimate the distance of its new potential up leg. Forecasting of the potential move in other words. Last bearish counts which I took and published for GXY during it’s corrective period were spot on as can be seen on the chart. Could the new counts be as good ? One is already met and exceed which shows strength.
I am taking a horizontal as well as a vertical count both being conservative counts. Horizontal count which yielded a Tentative Bullish Price Objective of 58.5 cents is already met and exceeded as can be seen on the chart. VERTICAL COUNT yields a Tentative Bullish Price Objective of 70.5 cents may also be met soon.
There is another horizontal count with a greater tentative bullish price objective, which I may publish, if and when this vertical count is met.
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