DFMGI Technical OverviewPosted on Tuesday, November 7 2017 at 5:32 am GMT+0000
Bearish pressure escalated.
The long term outlook remains neutral, and following a retest of the critical resistance at 3690, Bearish momentum had been restarted pushing the index below the lower-end of the medium term range at 3530. That move indicated the initiation of a new medium term Bearish stage and gave scope for further declines, preventing by that any forthcoming trading scenarios until clear signs of reversal are confirmed. However, negative sentiment feels at quite extreme levels, signaling for a probable short term correction with resistances outlined at 3570 and 3600 strong enough to restart the pressure.