ARTC Technical OverviewPosted on Sunday, January 22 2017 at 5:41 am GMT+0000
Extended rally above 1.48.
Traders are pushed to remain neutral, as long term trending characteristics no longer remain in place, they shall be waiting for a clearer technical picture. While a medium term corrective phase had been initiated on the beginning of last week; and a direct break above the 1.54 level could restore the prevailing Bullish trend. Moving to the short term, where a move above the 1.48 level could confirm the strength of the intraday support at 1.40 and signal for an extended move targeting a retest of previous highs. That support continues to be significant for both the medium and short term, and could be acting as a prospective stop for any possible short term scenarios.