The WLD order book has given the game away—the bids are paper-thin, while the asks are pressing hard. Large spot orders saw a net outflow of 12.68 million over 24 hours; this shallow depth could give way with the slightest push. The rebound ran out of steam before it could even reach 0.503. Futures open interest shrank 16.78% in a day, with longs capitulating and exiting. Short at the current price of 0.4936, with a first target of 0.4550 and a second target of 0.4300. Set your stop-loss at 0.5400. Don’t catch a falling knife.