ADX Technical Overview

ADX Technical Overview

Initial targets reached.

Although Bearish characteristics still remain in place in the long term, an extended rally above 4400 has given confidence for medium term Bulls. Medium term traders who decided to take advantage of the Bullish reversal activated at that level had the opportunity to liquidate half ongoing positions at 4470 and book partial profits. And now since the market edged well higher above 4470, those are advised to trail their positions to the aforementioned level in order to protect existing profits from any probable sharp shift in momentum while waiting for the market to reach their second targets of 4580.