Jun. 14 at 7:26 PM
$GNE Looks strong. The structure is clear on both the daily and weekly. This is a breakout from a long, disciplined base. You can see the accumulation stretch from late 2023 into early 2024, with multiple BOS and ChoCH shifts confirming the slow transition back into strength. Once price reclaimed the 17–19 zone, it accelerated cleanly. It's now pushing into the high 24s, sitting just under R2 and coming up fast on prior supply from the last major cycle top.
Momentum is there. Daily candles are clean, stacked, wide-bodied, and mostly wickless. MACD is fully expanded on the daily, no signs of crossover or fatigue yet. Volume is strong but not wild, which makes this even more convincing. It's running hard, but not frantically. It hasn't blown off.
That said, RSI is deep in the red zone printing 98 on the daily. Stoch RSI is maxed. This doesn't mean reversal, but it does mean it's entering the kind of territory where any pause in demand could trigger a sharp snapback. This is late-stage markup behavior. Still strong, still trending, but getting fragile up here.
The key now is how price interacts with this 25–26.80 region. That's where it start overlapping with prior supply, the same zone that capped the 2023 move. If it slices through and consolidates higher, then it's probably looking at a full retrace toward 29–30. But if it starts printing rejection wicks, or loses momentum while volume stays elevated, that could be the first sign of positioning starting to rotate.
If it does pull back, the first place I'd look for support is around 23.00–21.30. That's the last clean base and lines up with volume shelf support. Below that is 19.70, which was the top of the original accumulation range. If either of those zones gets tested and holds, that's still healthy structure. Nothing about this current move is broken yet.
So overall: bullish trend, clear structure, real strength. But it's now in the zone where smart money starts thinking about exit liquidity, not entries. No reason to fade it blindly, but definitely time to watch how it breathes.
