EMAAR Technical OverviewPosted on Sunday, September 25 2016 at 4:57 am GMT+0000
Short term Long activation.
Long term traders remain neutral with the market revealing weak characteristics. Prices fell after finding resistance at 7.44, the last decline can still be treated as correction of the prevailing up bias, which will provide medium term traders with renewed long entries, they will be monitoring for stronger support confirmation before any market entry can materialize, such confirmation will be brought about by any break above the 7.28 intraday resistance. Short term traders noticed the activation of new long position after the break of the 7.11, which confirmed further bullish implications in the short term with targets outlined at 7.22 and 7.41.