DIB Technical OverviewPosted on Wednesday, November 8 2017 at 5:27 am GMT+0000
The formation of a lower top on the daily timeframe outlined at 6.25 followed by a break through previously confirmed bottom at 6.05, has changed the medium term outlook. The drop below what was considered to be a key support level indicated that the market has moved into a bearish mode. At the narrower side, the break below the key level at 6.00 has strengthened the short term Bearish prospects and pointed towards a downward continuation. With Bearish scenarios continuing to develop, traders are expected to remain outside of the market.