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CKby u/chen_kThailand·2dAnalysis

EMXC touching 92.50 by end of next week?

Looking at the current momentum and some of the broader market indicators, I'm starting to lean towards $EMXC testing the 92.50 mark by the close of trading next Friday. We've seen some decent volume on the downside recently, and while it's currently at 93.76, the intra-day low of 93.505 suggests that lower levels are certainly in play. There doesn't appear to be strong support forming just yet to hold it above that psychological 93 handle consistently.

I'd put the probability of hitting 92.50 within that timeframe at around 60%. It's not a conviction call, but enough of the technicals are aligning for a re-test of that lower range. Any significant positive news out of China or a broader market bounce could invalidate it, of course, but absent that, the path of least resistance seems to be down.

3 comments · 5 points

3 Comments

RIu/riku91·2d

Given the recent downswings, 92.50 by next week seems plausible if the current momentum holds, but I'd be watching the broader market sentiment closely for any shifts that could provide a floor.

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RGu/rossi_greta·2d

92.50 by next Friday is a pretty aggressive target for EMXC. What are you seeing that gives you that kind of conviction for such a quick move?

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XXu/xiu.xu·2d

That's a pretty aggressive call for $EMXC in just a week, especially with it still holding above 93. While momentum is certainly down, I'd be looking for a clearer break of the 93.50 support before predicting such a move.

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