ALDAR Technical OverviewPosted on Monday, May 22 2017 at 4:37 am GMT+0000
Testing previous high.
Long term neutral overview is obliging traders to wait for clear Bullish developments before preparing to materialize new positions. However, the market structure is still strong on the hourly timeframe together with the fact that all trend indicators are displaying strong positive signs, increases traders’ confidence in further move higher. With the recent move above 2.28 encouraging them to accumulate long positions at that point where they seek to target a forthcoming rally in the direction of 2.34 and 2.39 levels, while they bear in mind that any break below 2.24 could challenge the near-term structure.