WLD recently rebounded from a low of $2.2188, reaching a high of $3.7383, a significant increase.
The current decline to around $3.2684 shows some profit-taking pressure.
Support level: $3.2000 (MA30 moving average support)
Resistance: $3.5400 (pressure from MA10 moving average)
If it breaks below $3.2000, it could further test the critical support of $2.9000.
There was a large increase yesterday, but it began to pull back in the late trading. The K-line showed a long upper shadow, indicating that there was a lot of selling pressure from above.
The current price is running below the MA5 and MA10 moving averages, and there is a possibility of further adjustments in the short term.
The increase in trading volume in the short term indicates that funds have certain gambling intentions, but the volatility has increased significantly, indicating that the market's direction in the short term is not yet completely clear.
Based on the current technical trend and market sentiment, it is recommended to focus on short-term operations and pay attention to the following key points:
Opening a position: If the price falls back to around $3.2000 and a rebound signal appears, you can consider opening a long position.
Stop loss: $3.1000 (once the price falls below this level, it means the trend may reverse and you need to stop loss and exit in time)
First take profit level: $3.4500 (near MA10 resistance)
Second stop profit level: $3.5400 (short-term high pressure level)
If the price can break through $3.5400 with large volume, it can further challenge $3.7383, but we need to be wary of the possibility of a false breakout.
If the price falls below the $3.2000 support, it is recommended to wait and see until further direction becomes clear in the market.
Today's trend forecast
In the short term, WLD may fluctuate in the range of $3.2000~3.5400.
If it breaks through $3.5400, the short-term upside may open up; conversely, if it falls below $3.2000, the correction will continue.
Short-term bullish, but operations need to strictly control risks. Follow Jiaoshou, and share with me insights into market trends and seize trading opportunities in real time!
