Weak Rejection
We discussed this market yesterday and the key price flip support level that price was testing.
Whilst price has held at this level and formed a bullish daily chart rejection candle, the rejection was very small.
We may have expected to see the bulls push price away from this level with a little more force than what we have seen so far.
With that in mind; this market looks to be a watch and not a trade at this point until we can see a more solid rejection, or the bears take control.
Whilst price has held at this level and formed a bullish daily chart rejection candle, the rejection was very small.
We may have expected to see the bulls push price away from this level with a little more force than what we have seen so far.
With that in mind; this market looks to be a watch and not a trade at this point until we can see a more solid rejection, or the bears take control.
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