EMAAR Technical Overview
Posted on Monday, September 25 2017 at 4:37 am GMT+0000Correcting lower.
A change in the long term outlook with the break above the upper boundaries of the range that was capping the share since October 2016, paved the way for further gains in the direction of 8.15 which was reached and 9.30 in the coming couple of weeks given market conditions remain the same. Likewise, the medium term is still strongly Bullish and the last correction lower was not surprising after the market reached extreme overbought levels. Now that prices approached the 8.53 support, confirmation signals are needed before triggering further longs or alternatively an immediate break above 8.95.
| EMAAR-EN 2017-09-25 |
