ADX Technical Overview
Posted on Wednesday, December 7 2016 at 5:37 am GMT+0000Rebounding above previous lows.
With the market showing weak trending characteristics on both the long and medium term, clearer signs of reversal are needed before materializing a reposition of both scales. And despite the last rally, Bullish medium term scenarios remain on hold until the daily timeframe can develop a stronger structure. The recent break above the short term range’s upper boundary at 4350 suggested forthcoming advances towards the 4390 and 4490 levels. In contrast, any dip below the 4250 would target the 4200 hurdle.
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