If the market closes above the open, the body of the box is white or empty. If the close is below the open, the body of the box or rectangle is black. The area between two parallel trendlines, the upper trendline connecting most of the important price peaks or closes and the lower trendline connecting the important lows or closes. Price reversals are expected to occur when prices approach either boundary. Commonly used in technical analysis are Bar Charts, Line Charts, Point and Figure Charts, Candlestick Charts and Market Profile.
Volume is relatively high with little price progress.
A climax marks the end of one of the late phases of a decline with an abrupt reversal. Occurs when the action of one indicator corroborates the action of another. The implication is confidence that the trend will continue. The lack of such confirmation is often called divergence. It is considered a likely area to find support or resistance in the future.