DIB Technical OverviewPosted on Monday, February 12 2018 at 5:46 am GMT+0000
Although the share maintains the bullish long-term market structure, the recent break below the ascending trendline on weekly charts has shown the first signs of weakness in the uptrend. After reaching a multi-year high of 6.63 on Jan 17, upside momentum faded and prices fell sharply dropping back below the 6.17 key support. That move soften significantly the medium term technical picture. Both long and medium term traders should remain out of the market at the present time and patiently wait for this descend to end near a strong demand zone before considering any new positions.