ADX Technical OverviewPosted on Tuesday, June 13 2017 at 4:34 am GMT+0000
In the long term the market eased off the 52-weeks high, with a neutral outlook remaining in place. Therefore, traders shall wait for stronger technical indications before accumulating new long positions. And with the medium term continuing to remains in a Bearish mode focus turns towards short term scenarios. The short term outlook having changed after the recent break above 4500 opening the way for an extended rally targeting 4520 and 4550. However traders should be aware of the Bearish outlook in the medium term, where downwards pressure can be restarted triggering an exit of the positions at the 4470 level.