Russel 2000 bearish engulfing followed by bullish engulfing week

Oct 4, 2020

Looking back in the charts, when a bearish engulfing weekly candle is immediately followed by a bullish engulfing candle, usually indicates short term bottom. I can only see 4 instances from 2004 when this price action did not eventuate. Last week we saw the Russel 2000 close with a bullish engulfing candle pattern whilst the week that preceded it was a bearish engulfing candle pattern. If history repeats, then these next few weeks should see a price runup in the Russell 2000