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Watching MGC at 270.75
Been following $MGC today and the 270.75 level, which was the intraday low, looks pretty significant. It's held twice now on retests. If it can maintain above there into the close, it could suggest some short-term support forming. My thinking is a break below 270.745, especially on any decent volume, would likely invalidate that support thesis and could see it testing lower toward 268-269 fairly quickly. Just watching price action around that area for now, no positions myself. It's been a choppy day overall.
1 comments · 1 points
Interesting to see that 270.75 level hold. Volume on those retests is key for confirmation, but it's a good observation for short-term price action. Will be watching to see if it sustains.