Technical analysis by Erald1 about Symbol GMX: Buy recommendation (5/15/2024)

Harmonic Pattern Completion: If the pattern completes, the price might rise towards the D point, which is typically at the 88.6% retracement of XA.Fibonacci Support: The 61.8% Fibonacci level (27.63) is a strong support zone, suggesting a possible reversal from this point.Elliott Wave Theory: The corrective wave (ABC) aligns with the harmonic pattern, adding confluence to the analysis.-The analysis suggests a potential bullish reversal from the current level (around 27.68), aiming towards the D point of the harmonic pattern. However, keep an eye on key support levels and validate the pattern completion with price action before making any trading decisions. Always consider using stop-loss orders to manage risk.