DFM Technical Overview

DFM Technical Overview

On the path to retest 1.08.

Having in mind the given neutral outlook, long term positions remain on hold at present time while waiting for stronger trending characteristics to appear on the weekly charts. The medium term bias remains tilted to the downside and the last corrective wave had been halted below previous daily top. Bearish reversal in the short term provided an early signal for the return of medium term Bearish momentum and is warning for a retest of 1.08. A deeper fall from this point will turn focus towards 1.03 defined as the lower-end of the long term consolidation. Only a daily reversal above 1.20 will provide some strength and bring back interest in the share.