DIC Technical OverviewPosted on Tuesday, January 17 2017 at 5:27 am GMT+0000
Bullish breakout above 2.63.
The recent long term move above the previous weekly top marked as the peak of December 2016 shifted the weekly overview to Bullish raising expectation in the market’s ability to continue its rally targeting at least the 2.85 level and a break above that could move the battle even higher towards the 3.50 key barrier. At the other hand, the recent short term pullback had been ceased at the 2.49, where traders shall monitor for a direct break above the 2.63 intraday top, which could confirm the resumption of the near-term Bullish path carrying on larger upside extensions. In contrast, a break below 2.49 would cancel any near-term Bullish scenarios and target further declines.