DFMGI Technical OverviewPosted on Sunday, February 19 2017 at 5:43 am GMT+0000
Signs of weakness.
Although the long term outlook remains Bullish the weekly top formation at 3740 reflected weakness in the uptrend. And with a possible daily reversal in the making, Bullish scenarios, on both the long and medium term have been placed on hold. Previous uptrend in the medium term has lost strength after hitting the previous top, and momentum triggers are warning of a return of Bearish sentiments. Hence only a decisive break above the 3740, would be the move that restores the medium term uptrend. Such breakout would act, at the same time , as a prompt for long term traders.