DFM Technical OverviewPosted on Wednesday, January 3 2018 at 5:30 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. Downside pressure has eased and the medium-term bias shifted to neutral also. However, the share is still vulnerable somehow and a daily closing below 1.10 would restart the downside pressure for a move towards the 1.03 May low. However, if the 1.10 manages to hold and prices rose above 1.13, then additional gains are likely, with scope to target the 1.15 and 1.18 levels.