ARTC Technical OverviewPosted on Thursday, June 1 2017 at 4:41 am GMT+0000
Short term consolidation.
Both the long and the medium term have strengthened the negative picture with the latest break below 0.800. That move increased the likelihood that the 23rd of Feb – 07th May range was just a transitory phase and that the prior downtrend is now resuming. With the medium term remaining strongly Bearish, downwards momentum can be accelerated below the 0.700 barrier. Only an immediate break above the 0.820 defined as the upper boundaries of the short term range, could postpone the medium term decline, and allow for corrective phase.