Let's break down this $WIF chart.
It's been a rough ride lately, looks like we topped out around $0.90 and have been dumping hard ever since. That's a strong rejection right there.
We're currently seeing a slight bounce from the lows around $0.74, but the overall trend is still clearly down. Volume on the selling pressure has been pretty heavy.
For any kind of recovery, $WIF needs to reclaim $0.80 and hold it.
Otherwise, this bounce might just be a brief relief before another leg down.
I'd be watching closely to see if we can establish a new support level, but right now, the bears are in control. Trade with caution.