DFMGI Technical OverviewPosted on Thursday, June 22 2017 at 4:43 am GMT+0000
Signs of weakness.
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. In the short term, the recent break below 3440 has signaled an hourly corrective wave and postponed an immediate upward continuation. While bias in the medium term remains Bearish despite the recent rebound, confirmation of support is needed before preparing the next directional signal. Only an immediate break above 3470 would act as trigger for short term traders.