ALDAR Technical OverviewPosted on Thursday, October 6 2016 at 4:35 am GMT+0000
Monitoring a break above 2.65.
The recent break below 2.70, 61.80% retracement level signaled weakness in the prevailing bias, suggesting extended bearish implications, pushing long term traders to monitor for any signs of reversal that would signal towards longer term growth in the market, such confirmation will be provided by the completion of daily reversal form. Both medium and short term traders shall stay neutral for the meantime, where signs of a clear shift in momentum are needed before any market entry can materialize. At the moment only an immediate break above 2.65 will pave the way for further advances towards the 2.69 and 2.73 levels, providing short term traders with new market entry opportunities.