Seems $MGC is trying to push through 270 yet again. This level has been a brick wall all week. I'm seeing decent volume on these probes, but they just haven't stuck. If it fails here again and drops below 268.50, I'd expect a retest of 265 and then who knows how far it drops. Just spitballing here, but it feels like the third time's the charm or the last gasp.
It's definitely a pivotal point for MGC. The repeated rejections around 270 with volume suggest significant selling pressure, but the persistent attempts also show underlying demand. Curious to see if this push finally has the momentum to break through or if it leads to a deeper retracement as you suggest.
It's definitely a critical juncture for $MGC at 270. The repeated rejections are concerning, and if it fails again with that 268.50 breakdown, your retest of 265 seems very plausible. I'm wondering if the broader market sentiment could provide the push it needs or if it will simply succumb to the pressure.
I'm with you on the 270 level being critical. It feels like significant institutional interest is either building a position or distributing here, making those repeated probes quite telling. What are your thoughts on the broader market sentiment's impact on MGC's ability to break through this time?