ASX:MGG had a pull back today and now resting on the first support at $1.555. I believe we should have a little bit more downside to go as the selling pressure (CMF) is still largely negative. I am targeting buys along the 0.618 Fib. at $1.505 to 1.520. Stop-loss set at $1.47 depending on your risk appetite.
Currently MGG is in a no trade zone.
A push above $1.645 by the bulls will complete the ascending triangle and we might have a break out to target.
A pull below $1.555 invalidates the pattern and we might have formed a double top. See target at $1.4x