Short Gail - Dark cloud pattern formed

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GAIL


There's a very prominent dark cloud pattern formed at the peak of the previous rally. The dark cloud pattern combined with the relatively high volume is a moderately reliable indicator of a trend reversal. Also note that , GAIL has been forming a bearish flag pattern. This, coupled with the fact that it has been consistently trading under the 200 day moving average signals a strong probability of a trend reversal