Bearish engulfing on the weekly

A solid week of selling has resulted in a bearish engulfing pattern on the weekly - the first major red candle following the up trend closed lower than the previous week's wick.
Similar to 2017 peak which had a more obvious engulfing pattern, this would signal a longer term down trend. If, like 2017, there may be a bounce play over the coming weeks, but trade cautiously.