DIB Technical OverviewPosted on Thursday, October 12 2017 at 4:43 am GMT+0000
Found solid ground.
Long term traders, shall wait to see a clear break above 6.35 before ruling out any probable slowdown in momentum. Such move would strengthen the long term Bullish outlook and confirm the current wave opening the way for further gains. Whereas in the medium term, the correction initiated from the 6.26 has reached a strong demand zone above 5.95, and signaled the resumption higher after the completion of a short term reversal above 6.17. The move above 6.17 intraday top is regarded as a good sign that will lead the way towards fresh levels given market conditions remain the same. Medium term traders who have repositioned with the break above 6.17 will aim to target the 6.41 and 6.62 levels whereas shorter term traders long above that level had their initial targets reached, and are now allowed to trail their positions higher.