DIB Technical OverviewPosted on Wednesday, September 21 2016 at 4:38 am GMT+0000
Probable bullish reversal above 5.38.
Long term traders should wait for stronger trending characteristics before preparing to acquire new positions, with the market continuing to show weak signals. In the medium term prices dipped in an attempt to test the 5.30 level, reflecting weakness in the prevailing uptrend, and warning for a possible upcoming consolidation. Short term traders shall stay neutral for the moment monitoring for any signs of reversal before entering new long positions. At the current time a decisive break above the 5.38 will offer them such opportunity suggesting forthcoming higher highs towards the 5.42 and 5.49. Alternatively a break below 5.30 will signal the resumption of the short term bearish bias.