SmarTrend's candlestick pattern scanner has detected a bearish engulfing pattern for shares of PowerShares DB Gold Double Short ETN (NYSE: DZZ) since the stock closed below $13.81.

Yesterday, this company traded 777,171 shares, versus the previous day's total volume of 499,769. Heavy volume increases the reliability of this bearish candlestick pattern.

SmarTrend issued an Uptrend alert on shares of PowerShares DB Gold Double Short ETN on February 05, 2010 at $15.10 per share (8.9% retracement since that call). This bearish candle pattern may point to a reversal of the previously called Uptrend.

Write to Chip Brian at [email protected]

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