DFM Technical OverviewPosted on Monday, March 5 2018 at 5:45 am GMT+0000
Short term correction.
In the medium term the share is threatening to reach new lows after breaking through the 1.08 which was an area of congestion recently and also acted as a strong support in the past. That move marked the completion of Bearish reversal pattern on the weekly charts. And now, although Bearish pressure had been paused, and a short term correction is on the play, a retest of the May 2017 Low at 1.03 continues to remain expected as long as prices remain below 1.10. Only an immediate rise above that level can open the way for a further short term correction and ease the immediate downside risk.