ADX Technical OverviewPosted on Sunday, January 8 2017 at 5:42 am GMT+0000
Testing weekly top.
Long term traders should remain on the side at the current time and patiently wait for the break of the 4650 hurdle marked as the top of April, which will complete a weekly Bullish reversal, before attempting to acquire new longs. While the last break above the key level at 4600 signaled for further medium term growth and confirmed the quality of the trend in motion. That breakout acted as a trigger for short term longs, as it raised more confidence in the Bulls’ ability to continue pushing the prices higher towards the 4640 and perhaps 4690 zones.