MGC's Dance with 274-275 and the Waning Momentum

Been watching $MGC pretty closely today, and that 274-275 area is really proving to be a sticky wicket. We bounced off it a couple of times earlier, even briefly poking above 276.785, but the overall momentum just feels like it's bleeding out, with the current price hovering around 275.03. I'm seeing a bit of a headwind forming here, and if we convincingly break below 273.925 and fail to reclaim it quickly, my whole bullish bias for the short term would pretty much evaporate. It'd suggest a retest of lower support, perhaps down to the 270s.

It's always a fun game trying to second-guess the market, isn't it? The lower highs since the open are what really catch my eye, even with the intraday bounce. Not exactly screaming 'buy me' vibes, but then again, gold has a funny way of surprising everyone right when you think you've got it figured out.