The MA 40 on the weekly chart seems to serve as a sufficient support / resistance throughout the chart.
Every time there is a significant drop below the MA 40 price action tempt to get back to it.
Although overall price action is in a down trend i believe it will be heading straight back to the MA 40 as soon as the median of the descending channel is broken.
Previously it could only get through on the 6th attempt but thereafter it managed to get through on the 1st attempt.
I suggest wait for the bottom trend line to be bridged and re-tested before attempting a LONG.
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