MCAT is currently around 0.69354 and down 2.19 percent, but weakness does not automatically mean the setup is finished. Sometimes the most interesting opportunities appear when price is testing support while the broader market is preparing for another expansion.
The important question now is whether buyers step back in around the 0.68 to 0.70 region. If that area holds and volume begins increasing, MCAT could attempt a recovery toward the 0.74 and 0.80 areas.
I would not chase the first bounce. I want to see buyers prove that the support zone is being defended. A clean reclaim of 0.70 would improve the short term structure significantly.
If support fails with heavy selling volume, the bullish setup weakens and the stop becomes important.
EP 0.68500 to 0.70000
TP 0.75000
TP 0.80000
SL 0.65000
I am ready for the move
