ADX Technical OverviewPosted on Wednesday, April 5 2017 at 4:34 am GMT+0000
Change in the medium term outlook.
Considering the current long term trend behavior, Bullish scenarios are expected to remain on hold at current times and traders should refrain from accumulating any new long term positions. Whereas a change in the medium term outlook following the break above the 4520 Daily reversal level, has opened the way for an extended rally towards the medium term targets outlined at 4580 and 4690. And with the market reaching an overbought condition in the shorter term, traders shall wait for a correction lower in order to reposition.