What is Bearish Belt Hold pattern?
A Bearish Belt Hold is a pattern that signals reversal of market sentiment from bullish to bearish. The pattern's formation on daily/weekly/monthly charts suggests the momentum may be slowing down and traders must be cautious. In Bearish Belt Hold, opening price usually becomes highest point of the day, and is also higher than closing price recorded in previous trading session. The price of underlying securities declines throughout the trading session resulting in a long candle (price charts of securities) with short lower shadow and no upper shadow. Investors must collaborate other data points to assess cues, and wait for benchmark index to break below crucial support levels before taking decisions.