ARTC Technical OverviewPosted on Monday, December 5 2016 at 5:41 am GMT+0000
Testing previous highs.
The extended corrective phase reaching above the 8th of November daily top at 1.36 has weakened the structure of the medium term downtrend. Where a further break above the 1.43 would shift the medium term outlook to Bullish and raise confidence for extended advances targeting at least the 1.52 level. That breakout will be the move that will restore the medium term positive picture for the first time since October, and would also act as a trigger for short term traders, as it will confirm the resumption of the near-term Bullish bias. At the other hand a break below 1.25 would cancel any probable bullish developments and warn for further declines.