DIB Technical Overview

DIB Technical Overview

Short term recovery.

Long term traders should wait for stronger trending characteristics before preparing to acquire new positions, with the market continuing to show weak signals. The recent break below the 5.13 daily support signaled the resumption of the medium term bearish bias, raising expectations that battle will be driven below towards the 4.90 level. However taking a look to the medium term oscillators, a corrective bounce could be on the works before the next negative leg. Therefore, short term traders might take advantage from such medium term pullback, as a direct break above the 5.20, might confirm extended advances towards the 5.26 and perhaps 5.36.