Engulfing patterns can be bearish or bullish depending on the previous price action and depending on where they appear with recent trend lines and support/resistance levels. For example ...
Named by the Japanese after a solar eclipse, the Bearish Engulfing Pattern may occur after a continued uprise in the market and maybe an indication of the bullish market turning bearish.
On this week's edition of BNSN Paathshaala, Kunal Bothra talks about spotting a bullish engulfing pattern. He used Nifty 50 & Nifty Metal Index chart to illustrate how to spot the pattern.