Three Stars in the South

The Three Stars in the South Pattern shows a weakening downtrend, which is indicated by less and less daily price movement and consecutively higher lows. After a down trend, the daily formations start indicating that the Bulls are becoming evident. Notice that each day's price range is engulfed by the previous day's range. In a downtrend this gives rise to indecision and increased risk for the bears to remain short. Look for higher prices ahead.

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