DFMGI Technical Overview

DFMGI Technical Overview

Correction halted.

Following the confirmation of the weekly bottom at 3260, long term traders who activated long positions at 3470 would aim to target the 3680 and 4000 levels, while considering that bottom as the first line of defense. Whereas in the medium term, although the bias remains obviously Bullish, the strong reaction coming from 3370 had been exhausted just below 3700, after positive sentiments reached quite extreme levels. Traders shall take advantage from this correction lower, and try to reinstate some new positions, after clear Bullish reversal signs, which can materialized by a sustained rise above 3620 intraday pivot.