ALDAR Technical OverviewPosted on Monday, January 15 2018 at 5:43 am GMT+0000
Lost steam in the rally.
Given the above trending characteristics, long and medium term traders should remain outside of the market and aim to reposition only after clear Bullish reversal signs. Although trend characteristics in the medium term has lost strength after the break above 2.23, bias is still Bearish, a return of Bearish momentum is expected before the strength of the last reaction can be confirmed. While the short term Bullish bias seems to be losing momentum and a neutral phase is expected. Only a sustained rise above 2.28 can restore the short term Bullish bias and act as trigger for further short term long positions.