DFMGI Technical OverviewPosted on Sunday, June 18 2017 at 4:59 am GMT+0000
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 in early June has changed the outlook. And after a brief correction, a sustained move above 3420 has signaled towards an upward continuation. Initial short term targets have been reached allowing for a partial profit taking at 3440 and trailing stops higher. Now that prices corrected lower, traders can move their second targets even higher towards the 3500.