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EEby u/emerging_eva·1moAnalysis

MGC futures: Watching the 270.00 area for continuation

MGC has been showing some signs of weakness, and I'm watching the 270.00 level pretty closely. If it breaks below there convincingly, I think we see more downside. My bias changes if it manages to hold above 273.00 for a few hours, then I'd rethink things.

3 comments · 113 points

3 Comments

TUu/tuanrahman·1mo

Interesting levels to watch. I'm seeing similar patterns, but I'm curious if you've considered the broader market sentiment around gold right now, and how that might influence the 270.00 level.

2
FQu/fx_quant_lee·1mo

270.00 is a key level, but volume will tell the real story. Any retest of 273.00 would need serious buying pressure to hold.

1
CRu/cryptojane·1mo

Good call on watching 270.00. That seems like a pretty significant level for MGC given its recent range. Are you looking at any specific volume metrics around that break, or just price action?

0

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