Over the weekend break we looked into a bullish rejection candle that formed at the close of last week’s trading.
This signal is in a bit of a ‘dead zone’ here because it is not reacting with any major levels and is floating between two others which I have marked above.
The signal does however have the support of the mean value which is angled up nicely and holding as dynamic support. The recent market momentum is also bullish so there is a good chance we could see some bullish follow-through.
It’s also important to note last candle closes very positive for the day, and actually closing as a very bullish looking Inside Day – so breaks higher could trigger the next push upwards.