Last week ended with a Lower shadow candle.
To take on meaning it must form after a very strong down-trend, as we have.
The further attempt of a bearish extension found a return of buyers who raised the price: in this case we could identify a support level near the lows of the candle.
This pattern generates a bullish expectation also for the following week.
In these configurations the body candle color is not so important, while the formation of a very pronounced spikes is it.
note: no pattern or candle predict the future, is just an interpretation of market conditions.
To take on meaning it must form after a very strong down-trend, as we have.
The further attempt of a bearish extension found a return of buyers who raised the price: in this case we could identify a support level near the lows of the candle.
This pattern generates a bullish expectation also for the following week.
In these configurations the body candle color is not so important, while the formation of a very pronounced spikes is it.
note: no pattern or candle predict the future, is just an interpretation of market conditions.
