Looking at $EMXC and a potential resistance retest
Watching $EMXC around the 95.30-95.50 area. We saw a rejection there earlier today, and it's been a local high a few times in the past. If it pushes through that with any conviction, the next stop could be the mid-96s, maybe even 97. It would imply a good amount of buying interest above what's been a ceiling for a bit.
On the other hand, if we get another rejection around these levels, especially with diminishing volume on subsequent attempts, then a retest of the 93.70 recent low seems likely. That level held today, but repeated tests without a break higher often lead to a break lower. My bias remains neutral until we get a clear break or rejection with follow-through.
Interesting. "Conviction" is a subjective term, though. What volume are you looking for on the breakout to confirm it's not just a liquidity grab?