$MSCI is right on the trend line that has been in place since 2019.
We can see that the price has hit this level 6 times and it is testing the level again right now.
Bulls will want this level to hold, failure to hold here and there could be a large drop and I have added the bear case targets too.
A hold of support on the trend and a break out to the upside and this is into the bull case and a new high is possible over the next year.