Weak Rejection of Supportg
Last week we were watching this pair as price reversed lower and moved back into the old daily resistance level.
Whilst price has now held at this level as a new price flip support level, the rejection has been fairly weak so far. We may have expected to see this level hold with a little stronger push back higher.
Whilst the strong rejection may come, so far we only have a small indecision candle at this support level.
With that in mind it could be best to watch this play out a little further until we see some more defined price action
Whilst price has now held at this level as a new price flip support level, the rejection has been fairly weak so far. We may have expected to see this level hold with a little stronger push back higher.
Whilst the strong rejection may come, so far we only have a small indecision candle at this support level.
With that in mind it could be best to watch this play out a little further until we see some more defined price action
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Related publications
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.