DFM Technical OverviewPosted on Wednesday, January 10 2018 at 5:34 am GMT+0000
Intraday reversal activated
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. With the medium term having respected the lower range boundary, intraday reversal pattern above 1.13 has activated short term positions. Initial targets for those positions had been reached allowing for a partial profit taking and a trail of stop orders to the previous entry level. As long as the market remains above that level, there is room for further upside, and the share will likely target the 1.18 level.