WLT was a successful long trade (2x) back in early-mid Oct and once again looks to be setting up for another long-side trade. Entry might be a bit tricky on this one because as this daily chart shows, WLT has both a resistance zone as well as a downtrend line just overhead to contend with. As noted on the chart, my preference would be to go long a half position if/when the bottom of the horizontal resistance zone (39.75) AND the downtrend line are taken out, only adding the second half to bring it to a full position once/if the top of that resistance zone (41.15) is cleared. Targets markets, stops TBD once an entry is trigggered. My preferred target is currently T2 (56.00).
