DFMGI Technical OverviewPosted on Monday, July 17 2017 at 4:41 am GMT+0000
Second targets almost reached.
The reversal patterns on the daily timeframe together with the structure of the rally reflected strength in the medium term and also confirmed the resumption of the long term bias. Medium term long positions activated above 3470 had the opportunity to liquidate half ongoing positions and book partial profits at 3520. Now that the market eased higher well above that level, remaining positions are advised to be trailed to the 3520 level, protecting current profits from any sharp shift in momentum. Given market conditions stay the same, medium term traders continue to aim towards extended outlined targets outlined targets at 3600.