Are the bears tired or giving us time to breath before another drop?

After the big drop yesterday, the bulls where able to stop the our index from further decline. It close today with 2.34 points and formed a reversal candlestick pattern via a Doji Star. This pattern suggests that the bears are not anymore in control and bulls may take the lead but because this pattern has a low reliability, there must be a large green candlestick or a gap up to confirm bullish reversal. Are the bears tired of pulling the index down or they are just giving us time to breath before another drop?

Based on Ichimoku system, our index is still in a downward trend. There might be spikes along the way but there are a lot of sellers waiting to dump their shares if in case price will move few fluctuations up. Be careful.


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A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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