opened higher, swooned with stocks lower on Senator Reid's comments, and finished higher when the day was over. From a technical perspective today's candle is a Dragonfly Doji
. The Dragonfly Doji
is a bearish
reversal candle which is reasonably reliable - if so why is this a breakout. In order for the Dragonfly Doji
to be confirmed prices will need to open lower tomorrow and finish lower tomorrow. With the price action above resistance odds are this candlestick
pattern will not be confirmed but instead rejected and prices will move higher.
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