Today a White Closing Marubozu was formed. This shows that the day opened and then prices went lower slightly, however it was followed by a rally that drove the prices over the opening price and the rally continued all day ending with a closing price equal to the high of the day.
For more about this candlestick click here.
The last two candlesticks formed a Bullish Engulfing Pattern . This is a bullish reversal pattern that marks a potential change in trend. However, its reliability is not very high and it requires confirmation.
For more about this pattern click here.
The last three candlesticks formed a Bullish Morning Star Pattern . This is a bullish reversal pattern that marks a potential change in trend. Though it is highly reliable confirmation is still recommended.
For more about this pattern click here.
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