DFM Technical OverviewPosted on Thursday, April 6 2017 at 4:35 am GMT+0000
Short term consolidation mode.
The extended correction reaching below February bottom at 1.24 has weakened the current long term structure, and consequently a confirmation of a support is needed before validating the next weekly buying signal. Those long term developments are setting a neutral to Bearish medium term outlook. In the short term the share continues to consolidate between the middle of the range, only a confirmed break above the 1.33 would set the way for a further rally allowing for entry of new longs. While an immediate break below the range’s lower boundaries at 1.22 could restore the negative outlook.