DEYAAR Technical OverviewPosted on Wednesday, January 31 2018 at 5:47 am GMT+0000
Confirmed further strength.
Following the formation of a new weekly bottom above 0.450 prices surged sharply and broke above 0.565, indicating towards a new Bullish stage in the long term. The break above 0.565 should have been attracted long term traders having caused a Bullish weekly trend reversal that increased odds for an extended move towards 0.625 initially. Above that level a stronger rally is expected that will probably expand beyond the 2017 top and reach the 0.720 area. With the medium term trend still directed upwards, the recent short term reversal above 0.566 signaled the end of the last corrective wave and the recent surge above 0.590 reinstated the ascending price movement towards further gains. Medium term traders who considered new positions at 0.566 should be enjoying their gains and patiently wait for the market to reach their targets of 0.620 and 0.670. Those should remain ready to exit their positions with any surprising drop below 0.535 where the recent strong structure will be significantly denigrated.