Doji Star appears on the daily chart for copper

The doji star is a potent warning when it appears after a sustained uptrend. It is a yellow light indicating caution. It appeared right below major resistance at the 200-day moving average. Monitor the price action on Tuesday for the possible formation of the evening doji star which is an open below the doji and a close deep into the prior white candlestick. This formation would put the brakes on the near-term uptrend for copper.

Copper 6-Month Daily Chart showing the doji star.

Copper 6-Month Daily Chart

Reference my last chart analysis for copper.

StockCharts.com has a concise summary of the candlestick patterns.

Evening Doji Star: A three day bearish reversal pattern similar to the Evening Star. The uptrend continues with a large white body. The next day opens higher, trades in a small range, then closes at its open (Doji). The next day closes below the midpoint of the body of the first day.

candleeveningdojistar

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