EMAAR Technical OverviewPosted on Monday, August 14 2017 at 4:42 am GMT+0000
After reaching a strong demand area on the weekly timeframe, Bullish pressure was initiated pushing the share beyond the upper level of the long term range that was in place since December 2016. Now that initial weekly targets reached at 8.15, allowing long term traders to take partial exit and trail positions to the 7.80 level. The recent move below 8.30 is warning for a forthcoming correction and led for the liquidation of the remaining medium term positions. Medium term traders can wait for such downwards retracement before start searching for new Bullish signs of entries.