DFMGI Technical Overview

DFMGI Technical Overview

Testing 3680.

Although the long term outlook remains neutral, the index has fueled an attempt to break higher and is actively testing the important weekly resistance of 3680. Further Bullish pressure above that level would shift the long term bias to Bullish and indicate to a further rally targeting the 3780 and 3930. Such breakout would act as a trigger for medium term longs also as it would confirm the resumption of the June- August uptrend. However, with the market testing a critical weekly level, failure to convincingly break above it would within the forthcoming trading week would weaken the Bullish pressure and lead to a continuation of the medium term range.