DFMGI Technical Overview

DFMGI Technical Overview

Extended Bearish pressure.

Although the long term outlook remains Bullish the recent weekly reaction reflected weakness in the uptrend. And with the medium term reflecting a strong downtrend, both long and medium term traders shall remain out of the market until the daily timeframe can set the foundation of a forthcoming uptrend. The recent short term Bearish breakout below the 3480 confirmed the strength of the prevailing bias, intensifying the case for extended downside moves.