DEYAAR Technical OverviewPosted on Sunday, March 19 2017 at 5:44 am GMT+0000
Testing short term resistance.
With the market reflecting a weak trend in the medium term, traders shall remain on the sidelines as the correction targets a solider support in an attempt to sustain the decline. Medium term trend indicators are displaying mixed signs, warning of a possible sideways consolidation. While in the short term the intraday bottom formation at 0.560 has signaled for probable short term scenarios with a further break above the 0.580 acting as a trigger towards an extended rally. Any break below the 0.560 could restore the short term negative picture.