Close at OpenTechnical Analysis
Occasionally bars will close at open during a trading period. They often move to a high or to a low before returning. Occasionally they will move to a high and a low.
It often means deadlock or indecision between the buyers and sellers. However, its interpretation can change based on the previous trend. In an uptrend, if the bar opens near the top of the bar, then dips to establish a low and returns to the top for the close, the uptrend will likely continue. If a bar rises upwards to establish a high, then collapses to close near the low, a reversal may be impending, but a weak uptrend can continue afterwards.
In a downtrend the situation is reversed. A reversal may occur if price falls after the open to establish a low and returns to the open to close. The downtrend may continue if the price rises for a high after the open then moves back to the open to close.
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