2013년 6월 24일 월요일

Bullish Candlestick Confirming Moving Average

Bullish candlestick bouncing off of 50-day moving average

Bullish candlesticks can be used to confirm the validity of common moving average support lines. In the chart above of the Energy SPDR Index ETF (XLE), the commonly used 50-day simple moving average was confirmed multiple times by large bullish candlesticks. Every time the prices moved into the area of the upward sloping 50-day moving average, the bulls appeared pushing prices higher and initiating multi-week uptrends before returning back to the moving average to once again be defended by yet another bullish candlestick.

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