Bullish Engulfing

A Bullish Engulfing pattern is a two-candlestick bullish reversal pattern that typically appears after a downtrend, indicating that buying pressure has overtaken selling pressure. The pattern forms when a small bearish candle is followed by a larger bullish candle whose real body completely engulfs the previous candle's real body, reflecting a strong shift in market sentiment from sellers to buyers. This suggests that the prevailing downtrend may be losing momentum and a potential upward reversal could follow. The pattern is considered more reliable when it develops near a key support level, is accompanied by higher trading volume, and is confirmed by subsequent bullish price action or other technical indicators. $MCX