The Price action seems bullish from here after a decent downtrend. Reasons:
1) 3 strong red candles are nullified by a single green candle with above average volumes.
2) Happened near lower line of a channel.
Target: 1020 (upper end of Channel)
SL: 844 (recent swing low)
(PS: Expect a little resistance at the control price.)
Tail it has all the characteristics and underlying implications of the excess price, but is stronger. The less time price spends at a certain price level, the more effective that price level will be in providing support or resistance for future price action. Because less time spent shows greater rejection. Observe how price goes above value and spends there the...