Looking over to the popular commodity GOLD today, this market did go a bit stale for a while there but the downward momentum has now picked up once again.
This market has recently just seen a large breakdown in price, a bullish correction, and at the top of the correction a retest of the recent swing low. The swing low has been tested as new resistance and confirmed by a bearish price action signal.
The bearish rejection candle is communicating to price action traders that the bears have been drawn back into the market at this hot spot on the charts and we are anticipating lower prices off the back of this signal
If price breaks the low of this signal we will be considering short positions to ride this bearish momentum