DIB Technical Overview

DIB Technical Overview

Contained between short term pivots.

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. Moving to the short term where an immediate break above the prevailing range’s upper boundary would shift the outlook from neutral to Bullish providing both the medium and short term traders by a new market entry point as it will increase the likelihood that the last decline was just a corrective phase and that the prevailing uptrend could be resuming.