DFMGI Technical Overview

DFMGI Technical Overview

Challenging 3195.

Long term traders will remain on the side with the market reflecting weak trending characteristics, bearing in mind that a break below the weekly bottom at 4195 would strengthen the case for further declines. Both medium and short term, reflecting strong bearish bias, therefore traders shall be cautious, and wait for strong signs of ascendant reversal before materializing new long entries. Short term traders might take advantage from the probable extension of the medium term corrective phase, and activate new longs above the 3340, where a short term bullish reversal will be completed, suggesting forthcoming higher moves.