Technically speaking, in order for the downtrend to be broken we...

Technically speaking, in order for the downtrend to be broken we need to see a break above 41 cents, a weekly close there at minimum and enough strength to remain above it going forward.

However based on the chart I see no reason to change sentiment. What you’re seeing is more likely another lower high in line with the trend, followed by the predicted capitulation. IMO that’s what needs to happen before a definitive bottom can be formed. As you can see buyers have been overrun at this level at every attempt to take it higher.