DFMGI Technical Overview

DFMGI Technical Overview

Testing Pivot at 3510.

Long term positions continue to remain neutral, where a break above the 3625 resistance is needed before the confirmation of any bullish scenarios. The recent decline signaled weakness in the prevailing medium term up bias, but the up bias remains intact. Medium term traders will be monitoring for a stronger support confirmation before any new trades can be materialized. At the mean time such confirmation will be brought by the completion of the short term trend reversal at 3510, which will also provide short term traders with new market entry opportunities targeting 3530 and 3565 areas.