ADX Technical OverviewPosted on Sunday, July 2 2017 at 5:17 am GMT+0000
Eying a retest of 4350.
In the long term the market eased off the 52-weeks high, with a neutral outlook remaining in place. Therefore, stronger technical indications are needed before new long positions can be accumulated. With the medium term remaining negative, Bearish pressure has caused a break through the 4420 previous daily support, bringing more emphasis for extended losses. The market is eying a retest of the 4350 marked as the 3rd of May Low, obliging traders of both the medium and short term to stay neutral for the present time.