DIC Technical OverviewPosted on Sunday, December 18 2016 at 5:50 am GMT+0000
Early shift in momentum.
Although the long term outlook remains Bearish, trend indicators point towards weakness in the ongoing trend, and a further break above the 2.50 would shift the entire picture into positive. A strong uptrend remains intact in the medium term, but with indicators entering deeply in the overbought territory a slight pullback might be on the works before the next leg high, therefore traders shall wait for any pullback that might provide them with new buying opportunities. The last short term decline had been halted at the 2.30 level, and a decisive move above 2.37 would confirm forthcoming advances towards the 2.46 and 2.55 levels, while the 2.30 pivot is acting as prospective stop for any possible near-term scenarios.