ALDAR Technical OverviewPosted on Thursday, December 21 2017 at 5:50 am GMT+0000
On the way to retest 2.10.
Given the above trending characteristics, long term traders should remain outside of the market and aim to reposition near a strong demand zone and only after clear Bullish reversal signs. Prices have been showing persistent signs of weakness since falling from the April 16 high of 2.50 and have retreated into medium term bear-market territory after the dip below the 2.25 previous daily bottom. And close below 2.17 will confirm that a new daily top is in place at 2.23 and increase odds for a move towards 2.10 April low. Only a sustained push above key resistance at 2.22 would ease immediate downside pressure and change the short term Bearish structure allowing for new short term positions.