DFMGI Technical OverviewPosted on Monday, June 12 2017 at 4:38 am GMT+0000
Major changes in the short term.
Having in mind the given neutral outlook, long term traders shall remain on the sidelines at current time with the aim to reposition only after strong trending characteristics appear on the weekly charts. While the medium term remains strongly Bearish despite the recent rebound. However in the short term an aggressive shift in momentum at the end of last week has changed the outlook. Now that the market corrected lower traders shall wait for that retracement to end near a solid support level before attempting any new positions, or otherwise monitor for an immediate break above 3420 that could extend the rally towards 3440 and perhaps 3470.