DFM Technical OverviewPosted on Wednesday, June 7 2017 at 4:39 am GMT+0000
Shift into Bullish momentum.
Long term Bullish scenarios continue to remain postponed for now and traders should be waiting for stronger structure before validating the next weekly buying signal. With the long term approaching from the lower boundary of the past 52 weeks, setting a clear Bearish medium term outlook. On the other hand and a after reaching a strong demand level the share reflected fatigue signs in the drop which materialized with the hike above 1.12. This move should have attracted short term traders to accumulate positions in the direction of 1.17 and 1.24. At the same time, those shall bear in mind that any drop below 1.05 could challenge the recent structure.