Analysis of WIF daily level technical indicators and graphic structure:
1. MA (Moving Average)
The short-term moving average (MA7: 2.648) and the medium-term moving average (MA25: 2.496) show a clear bullish arrangement, indicating that the recent trend is upward and the price is in a rebound trend.
The strong support below the long-term moving average (MA99: 1.991) indicates that the long-term trend is promising.
The current price is above both the short-term and medium-term moving averages, indicating that bulls are currently in control of the market.
2. MACD (Moving Average Convergence and Divergence)
The DIF line (0.168) and the DEA line (0.185) are close to the zero axis, and the two are very close, indicating that the current upward momentum is limited. With the MACD line sitting close to zero, it means the market has entered a critical selection period.
If the DIF line can continue to move upward and form a golden cross, it may bring new upward momentum.
3. VOL (Volume)
Trading volume is currently relatively stable, with no significant increase or decrease. This means that the market temporarily maintains a relatively stable buying and selling balance.
4. RSI (relative strength index)
RSI(6): 57.648, close to 60, which indicates that the market is currently neutral to bullish and has not reached overbought or oversold conditions. There is room for further price upside, but watch out if the RSI reaches overbought territory (above 70) if it continues to rise.
5. Graphic structure analysis
W-shaped reversal: You can see the W-bottom shape from the graph, which is a strong reversal signal. When the price breaks through the previous high (near $2.6), the upward trend becomes more obvious.
The current price is close to the previous resistance level of 2.689. If it can successfully break through, the next target may be $3.127.
6. Target price analysis
Short-term target: After breaking $2.689, the price could challenge the $3.127 resistance.
Medium-term target: If the move continues, $4.080 is the next important pressure area, which is the all-time high.
7. Take profit and stop loss price
Take Profit Point: Based on technical analysis, consider setting your take profit at $3.127 or $4.080.
Stop Loss: The short-term support is near $2.023, and it is recommended to place a stop loss below this level. A break below this point could lead to a further pullback to $1.991.
