DFM Technical Overview

DFM Technical Overview

Posted on Tuesday, November 21 2017 at 5:41 am GMT+0000

Signs of support.

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 clearly tilted to the downside after a retest of the 1.08 low. Although that level has shown first signs of support with a daily bottom having being formed at 1.09, intraday Bullish reversal level would be needed before ruling out any further extension lower towards the 1.03 May low. Such reversal can only be confirmed with an immediate break above 1.15, and once activated will bring the share to a critical level at 1.20 above which the medium term trend would be shifted to Bullish.

DFM-EN 2017-11-21