DIB Technical OverviewPosted on Tuesday, May 9 2017 at 4:26 am GMT+0000
Bearish pressure expected to resume.
Having in mind the above trending characteristics, no long term positions are recommended at the time being and traders shall patiently wait for strong support confirmation before instating new longs. The extended correction reaching above 5.88 has weakened the structure of the downtrend although lower troughs remain in place. At current time medium term traders continue to be neutral, unless a break above 5.95 activates a Bullish reversal. However Bearish pressure is expected to resume in the medium term with the 5.80 level providing an early Daily Top warning towards a return of Bearish pressure.