Potential Shooting Star reversal pattern will weaken momentum. The last time this pattern appeared was on 31 st March 2008 . On 1st April 2008 a clone hammer candlestick chart pattern formed and finally on 2nd April 2008 a narrow range spinning top marked the ended of that uptrend swing wave. The current shooting star candlestick chart pattern tested the 50 days EMA resistance line and retreated back to close below it. A breakout above this resistance line will nullify the shooting star candlestick pattern and propel price towards next resistance at $3.74 . However, if the next candlestick bar is weak price will retest the support at $3.34 which is near the 20 day EMA support line.
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