That line wasn't drawn from 9.6c. Its the trend line of all...

That line wasn't drawn from 9.6c. Its the trend line of all those redbars since it rejected 5.3c

With most of my trend lines i pull them backwards afterwards to see if they line up with anything else. In this case the 9.6c

The comment of we've broken the downtrend is only referencing the trend shown in red. The blue overhead lines are the major downtrend lines which are as per the 2 recent spikes. One with the lead up to the JORC and second one recently.

Also, as i suggested this trend break only means it will likely head sideways and now find support on the redline as opposed to resistance.

Downtrend's or uptrends are subjective depending on the timeframe one is viewing and one downtrend break can often mean it is now still in one but less aggressive in nature.

The yellow circuit is where the S.P needs to get before it looks slightly bullish. Breaking the blue-ones would be quite bullish.

Hopefully that makes sense - i wasn't inferring the S.P would run just that the downward pressure had been broken which was indicated in red. So as previously stated its bounded in the orange IMO with no direction either way until its breaks up or down from it.

SF2TH