Charts SYSTEMS

[JLS]

That last candle on your chart is a Bullish Hammer reversal pattern. A close tomorrow, or the next day, above today's body confirms it. An exception is if a Bearish pattern replaces the Hammer, then the new pattern requires confirmation. However, the list of Bearish patterns that can form in one or two days is very short, so that isn not likely.

Think of a trader psychology that makes within the market a very long lower shadow with a small body at the top, then you'll understand why a Hammer is a potential reversal pattern of high probability -- running out of obstinate sellers.

Most of the other indices closed with the same condition.