As per, the chart the line showing the downtrend has been significantly breached to the upside, as well as broken through a nearby minor resistance creating minor support. There is the possibility of an immediate buy to ride the upward momentum, however, a more cautious trader may wait to see a retracement and retest on the other side of the downtrend before entering a buy position. If the minor support is not breached soon and shows signs of stubbornness by rejecting movement towards it I could see a buy in the very near future.
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