• 4 weeks:Bearish, with downside pressure accelerating. 66 is the immediate reference, followed by the round-number areas at 65 and 64, since the chart shows no earlier support at these prices. Recovering 67–68 would be the first sign that the channel break is failing.
• 12 weeks:Repeated recovery failures keep sellers in control. 69–71 is the first meaningful resistance zone. Until prices reclaim it, rebounds remain vulnerable to becoming another lower high.
• 26 weeks:The descending channel continues to define the broader trend, although prices are now slipping beneath it. A sustained return inside the channel would ease the immediate pressure; overcoming its upper boundary, currently around 74–75, would provide stronger evidence of a trend change.
• 52 weeks:The advance toward 85 has been fully reversed, with the contract now making fresh lows across the displayed period. Building a durable recovery will require a base, a higher low and a break above a previous recovery high.

Cheers, SB/

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