Tuesday’s rejection of the highs was countered by the Bullish Outside Day created by price action. These conflicting signals were reflected in an unclear outlook for Wednesday and the resulting limited net movement.
A setback during the day was limited by Tuesday’s Marabuzo line but without attracting significant fresh buying – price action that does not provide strong signals.
Nonetheless 3cA studies are left mildly positive with the Outside the dominating feature but the daily Keltner channel also supporting.
Potential exists to 1.7167 and 1.7192.