POL's price action remains critical at this juncture. The key level to watch is the descending trendline—breaking above it would be the initial confirmation that a local bottom has formed. Currently, the price structure is best interpreted as a wave-4 high within the larger cycle. Zooming into the micro timeframe reveals an interesting five-wave downward pattern taking shape, suggesting potential further consolidation before any meaningful recovery. Traders should focus on this trendline breach as the primary signal for directional conviction.