A high wave candle has appeared on the daily chart. The small body with long wicks on both sides shows that a fierce battle between the bulls and the bears have occurred with both camps have roughly equal strengths.
Candlesticker.com classify this type of candle as a reversal candle with medium reliability. Should Monday's candle turns bearish. it would serve as a confirmation that the bears are gaining the upper hand. Take note that the price has hit the 50% fib level of the last down swing; indicates that the upwards retracement might been completed.
Below is the daily chart at the this weekend market's closing. Good luck and happy trading.
Thank you for all the great posts from last year! I look forward to reading your blog, because they are always full of information that I can put to use. Thank you again, and God bless you in 2010.