EMAAR Technical Overview

EMAAR Technical Overview

Posted on Wednesday, January 11 2017 at 5:46 am GMT+0000

Daily bottom confirmation.

EMAAR rallied breaking above the previous weekly top at 7.46 shifting the entire long term picture into positive, which could prompt extensions towards the 8.10 level, and a break above that could target the 9.20 area. The recent medium term correction had been halted at the key level at 7.00, followed by a move above 7.55 signaling the resumption of the medium term uptrend, allowing traders to acquire new longs at that level with targets outlined at 8.20 and 9.00, taking into consideration that any break below 7.00 would warn for extended declines.

EMAAR-EN 2017-01-11