Hammer Candle is formed today with high volumes in a short term downtrend. Is this a sign of reversal? Let's see.
EMA3 is below EMA13 (-).
Slope of EMA 13 is down.(-) EMA 13 is at 5429 level.
EMA13>EMA39.(+)
Answers for Yesterday
Today's Bearish Signals:
1) Close was below EMA 13.
2) Volume was high in red candle.
3) EMA 3-13 crossdown.
Again it was a bearish day. Bears tried to pull prices down, but in the end bulls charged in and the close was near open thus forming a hammer like candle with high volumes.
Questions
What is going to happen next? Let's wait and watch.
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