ALDAR Technical OverviewPosted on Sunday, March 18 2018 at 6:22 am GMT+0000
Approaching the previous daily top.
Medium term trend characteristics remain Bearish despite the initial reaction coming from daily support at 2.09. Medium term traders are advised to remain neutral waiting for reversal patterns before canceling out any further decline. The extended correction reaching right below the previous daily top at 2.34 has weakened the structure of the downtrend although lower troughs remain in place. However at the narrower side, the recent breakout above 2.18 has shifted the long term picture to Bullish and opened the way for further gains. Now initial targets for the position activated at 2.18 had been reached allowing for a partial profit taking and a trail of Stop orders higher.