DFMGI Technical OverviewPosted on Thursday, March 16 2017 at 5:40 am GMT+0000
Extended Bearish pressure.
Although the long term outlook remains Bullish the recent weekly reaction reflected weakness in the uptrend. And with the medium term reflecting a strong downtrend, both long and medium term traders shall remain out of the market until the daily timeframe can set the foundation of a forthcoming uptrend. The recent short term Bearish breakout below the 3480 confirmed the strength of the prevailing bias, intensifying the case for extended downside moves.