Such is the nature of a top. But last month's candle was very bearish by all accounts - a sharp rejection of the high. How much you read into monthly candles is another matter.
Not debating the nature of the last candle but any long term bull would have to be very happy with that chart.
That's what I meant - the July candle with it's long wick and low close is very bearish. I think a long term bull would be waiting to buy at lower levels.
It's a TOTAL WASTE OF TIME to even present a chart, let alone anything having to do with Technical Analysis on ET. Most ETer's wouldn't know of a huge outside reversal bar on a monthly chart ( or what it means ) if it was staring straight in front of them.
Agree, it seems most have no idea of what to do or when to do it. I mean counting, to say 3, or maybe 5, what a waste. trade well Keith
You people and your silly candles!! We will have to take out 12600 before even considering a change in trend. st