Technical analysis reveals that WLD bulls are strong and prices are expected to climb. Fibonacci extension levels indicate potential targets of $13.30, $13.96, and $16.74.
At press time, the next target was just above $11, but Fibonacci extension levels showed that prices could go much further than that. Technical analysis revealed that the bulls were so strong that the pullback that WLD was in a week ago was cut short. Buyers were eager and showed conviction, reinforcing the idea that prices would climb.The Fibonacci retracement and extension levels (pale yellow) showed that WLD has crossed above its local high at $9.45 after retracing to the 50% level at $5.
8 a few days ago. This dip came after a bearish divergence (orange) between WLD prices and the RSI momentum indicator in the 1-day timeframe. Further south was a strong demand zone at the $4 area, which had a bullish breaker block (cyan) and a fair value gap (white) confluence. The fact that WLD bulls did not wait to retrace so far south was a strong argument for their overwhelming strength. It is expected to reach the $13.30 mark soon, but the 61.8% and 100% extension levels at $13.96 and $16.74 are also targets for the coming days or week
WLD Bulls Prices Climb Fibonacci Extension Levels Targets
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