Closing Price Reversal Top

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