DFM Technical OverviewPosted on Sunday, June 11 2017 at 5:01 am GMT+0000
Initial targets reached.
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. And now since first targets was reached, traders were advised to move their stop loss to the entry level while patiently hold their remaining longs towards 1.24.