Bearish One Black Crow on ALI

ALI’s weekly chart is showing some bearish sentiment via the Bearish One Black Crow. This pattern appears in an uptrend and consists of a green candlestick and a red candlestick in which the red candlestick opens below the previous close and closes below its open. The pattern looks similar to the Bearish Harami pattern. The only difference is that the second period closes lower, which stops the engulfing of the red body by the preceding green body. If price will not be able to close above the week’s closing then there is a bigger chance it will go down. We also notice that ALI is developing a rectangle formation where current action is at the higher range. With this, price may visit the lower range unless the Kumo and the Kijun Sen line will be able to support the price. Kijun Sen line is currently moving horizontally at 27.82


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