DSI Technical OverviewPosted on Tuesday, January 16 2018 at 5:52 am GMT+0000
A new direction is being modeled in the long term trend of DSI. The completion of a Bullish reversal above the previous weekly top of 2.13 led the way for a new stage. That move restored the medium term uptrend that had been deactivated after the sharp drop at the end of October, and opened the path for further advancements towards higher areas were the market reached 2.45. Long term traders who had been represented an opportunity to enter market at 2.13, were now allowed to trail their positions towards their entries while patiently wait for their second targets at 2.95. Momentum reached exhaustion at the target level of 2.45, and the daily corrective wave is now testing first level of support. Therefore, confirmation signals are needed before triggering any further medium term longs.