DFM Technical OverviewPosted on Wednesday, February 8 2017 at 5:40 am GMT+0000
Testing weekly top.
With the market testing the previous weekly top at 1.42, long term traders shall remain on the side monitoring for an immediate break above that level before considering new positions in this share. While in the medium term picture, the move above the 1.42 would increase the probability that the 10th of Jan – 02nd of Feb decline, was just a corrective wave and that the prior uptrend is resuming. Something that could carry an ease in the upside speed, amplifying the case for extended moves targeting the 1.50 and 1.64 area. Whereas, a direct move below the 1.24 could cancel any probable Bullish scenarios.