Having recently fallen to an 11-month low, it remains uncertain whether bulls will be able to turn the tide. Although the volume and open interest have slightly increased, showing some bullish signals, the overall market sentiment remains weak.
Currently, WLD is priced at around $1.72, up nearly 10% in the past 24 hours. However, WLD still faces resistance at $1.7, and a breakout of this level could signal a stronger recovery. The current price is also struggling to break above the 20-day EMA ($1.87), which is crucial for a sustained recovery.
If WLD can sustain above the 20-day EMA, it will likely test the 50-day EMA ($2.08) and the 200-day EMA ($3.42). On the downside, the $1.41 support level is critical.
