$WLD: Don’t buy the dip just yet—the key is whether the rebound can hold
Weakness is clear, but a short still needs confirmation that the rebound is being rejected. The close is below the short-term moving averages, and price hasn’t moved far from them, so there’s a basis for a bearish view. But downside momentum is already looking overheated, and chasing the price near the lows could leave you vulnerable to a bounce.
Be selective about your entry. Watch the moving-average resistance above. If the rebound reaches that area and fails to hold, that’s the short opportunity to wait for: can the close break above resistance, or will price get pushed back down?
First, wait for a 15-minute candle to close below 0.4958. Only if the rebound fails will there be a good entry for a short.
The long/short pivot is 0.4958, with 0.502454 as a stop-loss reference. Which do you think price will hit first this time: 0.482493 or the stop-loss level?
#FuturesTrading
Weakness is clear, but a short still needs confirmation that the rebound is being rejected. The close is below the short-term moving averages, and price hasn’t moved far from them, so there’s a basis for a bearish view. But downside momentum is already looking overheated, and chasing the price near the lows could leave you vulnerable to a bounce.
Be selective about your entry. Watch the moving-average resistance above. If the rebound reaches that area and fails to hold, that’s the short opportunity to wait for: can the close break above resistance, or will price get pushed back down?
First, wait for a 15-minute candle to close below 0.4958. Only if the rebound fails will there be a good entry for a short.
The long/short pivot is 0.4958, with 0.502454 as a stop-loss reference. Which do you think price will hit first this time: 0.482493 or the stop-loss level?
#FuturesTrading