On June 17th, the SP closed at 38c and then rebounded to an...

On June 17th, the SP closed at 38c and then rebounded to an intraday high of 67c on the 5th July.
Since then, the SP has declined to the recent low of 31.5c, so technically, still in a downtrend.

IMO the first signal of an uptrend will be to close above 38c and then we might see a retest of 67 in the coming weeks. Fundamentally nothing has changed, so there is also the possibility of a retest of 31.5c in the coming days (i.e. dead cat bounce).

Not a bad trade though in the meantime if you can pick it ... bloody hard work though.