DFMGI Technical OverviewPosted on Thursday, January 5 2017 at 5:39 am GMT+0000
Larger Bullish implications.
The recent long term rally was halted slightly above the previous weekly top, hence long term traders shall be cautious and wait to see whether the Bulls are strong enough to start a new attempt to cross that level. Such breakout would raise confidence for forthcoming advances targeting the 3900 area. The move above the 3550 restored the short term Bullish picture, a scenario that could carry also larger Bullish implications in the medium term. Furthermore, the last break above the 3600 level allowed short term traders for a partial profit taking and a trail of the positions to the entry level.