In 4H TF, WLD seems to have been moving in a descending channel. It's just rebounced from the support trendline (at around $1.65). This pullback with average volume would not give alot perspectives on a strong bounce, in my opinion.
I would wait for a second retest of the trendline where a bullish devergence (on CMF and/or MFI indicators) would enhance the situation with a better reversal.
What do you think about this scenario?