Closing Price Reversal Bottom

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Closing Price Reversal BottomA closing price reversal bottom can be defined as follows:  following a prolonged move down in terms of price and time, a market has a lower-low than the previous time period, a higher-close, a close above the time period’s mid-point, and a close above the opening. If this occurs, consider this a sign that the market has bottomed and that the trend is getting ready to turn up.