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.