Price has been very respective of the bearish trendline for a year. The last lower high did however breakthrough the trend now respecting the strong resistance zone. This zone has proved to hold price very well so since we have now seen price closed above the trendline, I now see price testing the major resistance zone once again. We could see a retracement however I will be watching candlestick formation closely. We have 3 counter-trends that price has respected. I am looking for the retracement to bounce of the first or second trendline to enter a long position.