DIB Technical OverviewPosted on Monday, December 12 2016 at 5:30 am GMT+0000
Positive in the long term.
The formation of a weekly bottom above 5.00, followed by the break above the 5.65 confirmed a change in the long term outlook signaling extended moves targeting at least the key level at 6.00. Those long term developments acted as trigger for short term traders suggesting accelerated moves towards the 5.71 and perhaps 5.78 levels. And any immediate break below 5.50 will prompt an exit of the recently instated short term positions, as a minor medium term pullback could be on the cards as a result of the extended upward pressures.