DFM Technical OverviewPosted on Tuesday, January 31 2017 at 5:26 am GMT+0000
Return of Bearish momentum.
Long term traders shall remain on the side for the interim, and patiently wait for Bullish reversal signs before attempting to materialize any long positions, while previous uptrend in the medium term had been ceased away by the recent break below the 1.33 daily bottom. Also, the recent short term decline has broken through initial pivot levels, raising expectation in the Bears ability to drive the battle towards at least the 1.29 level. Both medium and short term traders shall treat the last rebound as a corrective wave and bear in mind that the prior downtrend could be , at any time, resuming.