WLD Technical Analysis
Looking at the WLD chart, it is clear that there is a proper long-term falling wedge formation going on. We see that this wedge has recently been broken above; however, WLD retreated to the trend zone following the strong sell-off after the breakout. Therefore, it is vital that the price should hold above this area. In fact, it is currently trying to hold between the levels at 1.127 and $1.225.According to the falling wedge formation, the technical primary target could be the level at $4.00, but we should be following the intermediate resistance levels before WLD reaches its technical target.
- Price: $1.121; it retreated below the trend after the wedge breakout.
- The levels at $1.127 and $1.225 are vital for the price to hold above the trend.
- The levels at $1.550 → $1.960 → $2.130 are targets in case of an upward breakout.
- Target of the wedge formation is $4.0
- Possible support levels to follow are $0.946 → $0.792 in case of a pullback.
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, traders are responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during trades.
