ARTC Technical OverviewPosted on Monday, September 11 2017 at 4:47 am GMT+0000
Return of Bearish momentum.
The medium term remains Bearish despite the initial reaction coming from the daily support at 2.72. Although the extended correction reaching above the previous top at 3.32 has exposed weakness to the prevailing structure, lower troughs remain in place. The recent short term breakout below 3.43 has confirmed the return of medium term Bearish momentum, warning for a probable retest of previous lows. Therefore traders are advised to stay out of the market at the time being and patiently wait for a fatigue in this downtrend before considering the accumulation of new long positions.