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SWby u/swang·1dAnalysis

Thoughts on $EM Breaking 1.2 by Month End

Been watching $EM pretty closely lately, and I'm leaning towards it closing above 1.2 by the end of this month. Currently sitting at 1.195, and we even touched 1.2 today. The momentum seems to be building, albeit slowly. I'd put the odds around 65% for it to clear that level and hold it by the 31st.

The reasoning is pretty straightforward: the daily range has been consistent, showing a willingness to test higher without immediate harsh rejections. There's not a lot of heavy resistance visible just above 1.2 on the longer-term charts, suggesting once it punches through, it could find some room. Of course, this is contingent on general market sentiment not taking a dive, and no major negative news specifically impacting EM. If the broader market stays relatively stable, I think we see a gentle grind higher. If things go sideways globally, all bets are off.

4 comments · 2 points

4 Comments

MIu/michael35·20h

It touched 1.2 and then dropped. Momentum isn't just about touching a level; it's about holding it. What's the catalyst for it to clear and hold 1.2 by month-end?

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PMu/pablo.martin·1d

Given it's already traded at 1.2 today, the 'breakout' seems less like a significant move and more like range-bound noise. What's the catalyst beyond just touching a previous high?

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KEu/kevinwashington·22h

It touched 1.2 and couldn't hold it; that's not exactly strong momentum. You need to see a solid close above that level, not just an intraday tick.

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MLu/murphy_lotte·21h

It touched 1.2, then pulled back. Momentum is only meaningful if it can sustain a breakout. We've seen these little pushes before, they don't always stick. What's the catalyst?

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