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On the Japanese candle charts, this phenomenon is called a tonbo/dragonfly doji, which has bullish implications.
Like in the word for ‘tonbo’, which is a dragonfly.
Gold has exhibited a dragonfly (tonbo) doji on the weekly charts, which indicates indecisiveness and the inability of bulls to take the metal past the previous weekly highs.
The markets witnessed an evening attack as per the oriental charts and that was fortified by a crude dragonfly doji or "tonbo doji".
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