MGC: Watching the 270 level for potential range break

I'm keeping a close eye on $MGC around the 270 mark. We've seen it bounce off that level a few times recently, suggesting some underlying support/resistance forming there. If we get a sustained break above 270 on decent volume, it could open the door for a move towards the 275-276 area, possibly signaling an end to the current sideways action. Conversely, a clear rejection and move back below 269 would likely negate that upside scenario for me, putting the lower 265-266 range back into play. Just my thoughts, could be wrong.