DIB Technical OverviewPosted on Sunday, November 19 2017 at 6:23 am GMT+0000
Short term correction halted.
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. With the short term prospects remaining sturdily Bearish, the formation of an intraday top below 6.14 is pointing towards a retest of the 5.94 previous intraday pivot below which momentum will be accelerated. Only an immediate move above 6.07 will ease downside pressure and shift momentum in the short term to Bullish.