IXHL retesting major weekly demand zone — possible bounce area .

IXHL is back at the same weekly demand zone that previously produced a violent reaction, and price is now trying to bounce again from that area.

What stands out to me:

- price has been compressing inside a long descending structure
- we’re retesting a major historical bounce area
- downside momentum appears to be slowing near the lows
- this looks more like a speculative bounce zone than a confirmed trend reversal

Why this area matters:

- the current region lines up with the prior major reaction low
- weekly structure is extremely stretched
- if buyers defend this zone again, a reflex squeeze is possible

Bullish case:

- hold above the recent low around 2.49
- reclaim 2.80 premarket / nearby resistance
- then push through 3.00

Bearish case:

- failure to hold this base
- acceptance below 2.40
- in that case this bounce thesis fails and it becomes just another dead-cat attempt

My view:
This is not a confirmed reversal yet, but it is a very clear bounce area on the weekly chart. As long as the low holds, the risk/reward for a rebound improves. The key now is whether price can reclaim nearby resistance and start building higher lows instead of rolling over again.

Not financial advice.