DFMGI Technical OverviewPosted on Sunday, January 29 2017 at 5:37 am GMT+0000
Ease in the upside speed.
The recent long term move above the 3660 level, amplified the case for further advances targeting the 3900 and a break above that level could drive the battle even higher towards the 4250 zone. While the move above the 3550 confirmed the strength of a daily bottom formed at 3490 level followed by the break above the 3660; something that could carry larger Bullish implications in the not-too-distant future. Moving to the short term where only an immediate break above 3740 could restore the positive picture. Otherwise, traders shall bear in mind the proximity of the support confirmed at 3640, as it will be acting as their first line of defense.