DFMGI Technical Overview

DFMGI Technical Overview

Short term positions above 3540.

Although the long term outlook remains Bullish the the recent weekly reaction reflected weakness in the uptrend. While a medium term rebound could be looming as Bearish pressures pushed the index deeply in the oversold territory. Short term traders should monitor for signs of support above the 3480 previous lows, where only an immediate break above the 3540 will allow for short term positions. with the 3480 intraday support acting as a prospective stop for any probable short term longs.