The recent price action on $WLD suggests that the market may be setting a trap for aggressive bears rather than confirming a true breakdown.
After slipping below the wedge support, the price moved into the $0.435–$0.445 demand zone, where buyers quickly stepped in. The long lower wicks on recent candles show strong buying interest around $0.440, while price compression hints that a larger move could be approaching.
If $WLD manages to reclaim $0.470, it would signal a potential shift in short-term market structure. In that case, the next upside target sits around $0.495–$0.505.
On the downside, traders should keep an eye on the $0.435 level. A daily close below this support could weaken the bullish outlook and increase the chances of a move toward $0.400.
For now, traders chasing short positions after the recent breakdown should remain cautious. If buyers continue defending the current demand zone, the market could trigger a sharp short squeeze, catching late bears on the wrong side of the move.
