lthough ENA has had a run over the last couple of months, we've run into resistance at $.26-.28 at the breakdown of the prior highs.
Unless price can flip this resistance level as support and then make it's way up to the blue trend line, it looks like we'll see another leg lower here.
I think the most likely path going forward is to see one more low, where we break the prior lows at $.06 and then go down to the $.01 level for the final move down of this cycle.
That's where you'd want to become a buyer.
The zoomed out view of the chart helps see the overall structure, and to me this chart does not look bullish yet.
Let's see if it plays out.
