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.