Large Bearish Reversal Pattern (Wick) Takes Place Last Week

A large bearish reversal pattern (bearish wick) took place at (1) last week.

This reversal pattern gains importance as it took place at the underside of channel resistance, at the 50% Fibonacci level of the recent down turn.

For sure….One week a trend does not make for sure.

This is one of the largest bearish reversal wicks in the past 6-years and it took place at a price point, that in time, could become very important.