ALDAR Technical Overview

ALDAR Technical Overview

Testing resistance.

Long term neutral overview is obliging traders to wait for clear Bullish developments before preparing to materialize new positions. However in the medium term the market is actively testing an important resistance level at 2.25. Further Bullish pressure would activate a daily trend reversal and indicate to a further rally targeting 2.33 and 2.45. Such breakout would confirm the strength of the recently initiated near-term uptrend and act as trigger for short term longs. At the other side, any drop below 2.17 would challenge that positive structure and bring the 2.10 level into view.