DFMGI Technical OverviewPosted on Tuesday, July 4 2017 at 4:38 am GMT+0000
Daily reversal above 3470.
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. However the formation of a daily bottom outlined at 3370 is acting as a medium term support and has placed the downtrend under threat. With previous daily top at 3470, an immediate break above the level will signal a daily reversal and initiate a further rally targeting 3520. Conversely, failure to remain above 3370 would cancel any probable scenarios and restore the medium term Bearish outlook.