EMAAR Technical OverviewPosted on Tuesday, October 24 2017 at 4:44 am GMT+0000
New Bearish stage.
The move below 8.40 managed to complete a daily trend reversal changing by that the medium term trend to Bearish and indicated the initiation of a long term correction. That move strengthened the short term Bearish prospects opening the way for further slippage. Short term trend indicators are also reflecting strong Bearish signals backing the new outlook. Hence, with Bearish scenarios continuing to develop, traders of both the medium term are advised to remain neutral for the time being and patiently wait for a clear daily reversal pattern before considering any new market entries.