DIB Technical Overview

DIB Technical Overview

Bearish outlook.

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 below the support at 5.22 level, confirming the market’s inability to continue towards higher levels, and warning for extended bearish moves. Prices rebounded after finding support at 5.13, but the last rally still can be treated as a corrective phase of the larger downtrend, and short term traders still have to monitor for the completion of a clear reversal to the upside before taking new market entry decisions.