DEYAAR Technical OverviewPosted on Thursday, March 30 2017 at 4:38 am GMT+0000
Probable short term reversal.
With the market reflecting a weak technical signs in the long term, traders shall remain on the sidelines waiting for a stronger technical picture. While the recent medium term breakout below 0.556 level could pave the way for a deeper downside move. That move increased the likelihood that the short term 20-Feb – 02-Mar rally was only a corrective bounce and that the prior downtrend could now be resuming. The 0.555 continues to remains significant for the short term as any drop below it could carry larger Bearish implications. At present time, only a decisive break above the 0.570 could change the near-term trending direction and signal for extended rallies.