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Home > Blog > Crude oil recommendation according to Hammer Candlestick pattern

Crude oil recommendation according to Hammer Candlestick pattern Back

What is hammer candlestick pattern?

A hammer candlestick pattern always found in a sharp fall its signals a bullish reversal from the bottom. It means Sellers are in control now. Traders should try to buy on dips.

Hammer Criteria: 

·         The lower shadow should be at least twice the length of the real body.

·         The color does not importance.

·         Upper shadow should ignore that.

·         The next day market should open with gap up then go long; if not open with gap up then wait for the closing price.

·         Volume also rise in the bottom. 

Recommendation:

 

Crude oil: Buy above 4680 stop loss below 4511 trgt 4800-4880 (short term view)
Crude oil recommendation according to Hammer Candlestick pattern
 
 
 
Posted on: 18-Nov-2014 | Posted by: NIFM | Comment('0')
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