EMAAR Technical OverviewPosted on Thursday, May 4 2017 at 4:41 am GMT+0000
After reaching a strong demand area in the long term, the share retreated to the middle of the medium term range. Traders shall remain neutral at the present time and wait to see whether the market would be strong enough to cross the 7.80 previous weekly top. The medium term remains trading in a sideways manner since December 2016, and the medium term trend indicators are confirming the lack of strength of either side to push through a breakout of the range boundaries. While short term traders shall monitor for a direct break above 7.47, and target a rally within the medium term range.