Hammer on PCOMP. Will it bounce from here?

Our index slowly retraces after we saw a Shooting Star last Sept 19. Observe also how the slope support the price not to drop right away to fill the gap. Today, we are seeing a Hammer candlestick. Hammers are weak reversal candlesticks but if it will be followed with a large green candlestick then there is a greater chance of reversal. Note also that we almost fill the gap today. Tomorrow might be an exciting day.

Caveat!

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