DIB Technical OverviewPosted on Monday, February 6 2017 at 5:39 am GMT+0000
Extended advances above 2.64.
The recent break above the key psychological level at 6.00 has confirmed the strength of the long term ongoing Bullish momentum signaling for extended moves targeting at least 6.60. That breakout allowed long term traders long above 5.65 for a partial profit taking and a trail of the positions to the entry level. The strength of the daily support at 5.87 has signaled towards possible medium term scenarios, with a further break above the 6.24 acting as a trigger towards an extended move targeting 6.45 and 6.80. At the same time, such confirmation would provide short term traders by a new market entry point, with the 6.05 pivot acting as a prospective stop for any renewed near-term opportunities.