DIC Technical OverviewPosted on Tuesday, December 5 2017 at 5:40 am GMT+0000
Crucial worrying signals.
After almost 10 months of consolidation between 2.00 and 2.55 with a clear absence of any direction, DIC broke out of that range and initiated a new Bullish trend. However, the medium term structure has shown first signs of weakness with the recent rally being stalled before reaching the previous daily top of 2.66. Those developments are putting the medium term uptrend under threat and now any drop below 2.34 will alter this Bullish outlook and increase Bearish pressure leading to a deeper decline. Only an immediate rise above 2.58 can confirm the resumption of the current uptrend.