Is $WLD ‌ finally ready to bounce or is this a trap?

Look at the daily chart. We’ve been bleeding out from that 0.4060 top for a while now. We found a bit of a floor around 0.2389, had a decent relief rally, but now we’re back down to 0.2587.
The price action right here is critical. We’re sitting on a minor support level, but those last few candles look pretty heavy. Volume is low at 29M, which tells me there isn't much conviction from buyers yet.
If we can’t hold 0.2500, I think we’re going to retest that 0.2300 level again. On the flip side, we need to clear 0.2730 to even start talking about a recovery.
I’m keeping my hands in my pockets for a bit. The order book shows more bids than asked right now, but the sellers are aggressive on the tape.
Stay sharp. This one looks like it's deciding its next big move.

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