DIB Technical OverviewPosted on Thursday, November 24 2016 at 5:37 am GMT+0000
Completion of a bullish reversal.
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 above the 5.21 daily top, completed a daily reversal to the ascent, raising expectations that battle might be driven higher towards the 5.31 and perhaps the 5.46 levels. That medium term progress acted as a trigger for short term positions as it confirmed a clear positive breakout of the previously dominant range. On the downside, the previous daily bottom at 5.05 is acting as the first defense for the recently established uptrend.