WOOD forecast
Wood has been in free fall as of late. It formed head and shoulders formation on a daily chart, which suggests minimum price target of $655. Today price reached 200 daily moving average. We can reasonably expect a bit of a bounce prior to downward trend resuming. I don’t have good price target for the bounce, it could be week or strong. It’s possible we done see a bounce at all, especially if price penetrates 200 MDA in the next few days.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.