At Higher the Index has made a harami pattern. A harami pattern is a reversal candlestick pattern. It is one of the best candlestick patterns performance wise, failure rates are comparatively lower than many other candlestick patterns. Candles are the first one to react towards reversal, In our scenario we have got a confirmation through candle pattern.

The RSI is following the price, Ema will take time to respond to the price as it is a lagging indicator. Volume during harami has been more compared to the whole upward move. Volume high price falling & RSI supporting price suggest weakness.

UK100

Jan 06 2022