ALDAR Technical Overview

ALDAR Technical Overview

Daily target reached.

Long term neutral overview is obliging traders to wait for clear Bullish developments before preparing to materialize new positions. While Bullish breakout that took place on the daily timeframe together with the structure of the rally reflect strength in the medium term uptrend. Long positions initiated above 2.31 had the opportunity to liquidate half ongoing positions and book partial profits. Remaining long positions are advised to be trailed to the entry level, protecting existing profits from any sharp shift in momentum. Given trending conditions remain unchanged, with any possible retracement remaining above the 2.31 level, medium term traders continue to aim towards extended outlined target at the 2.49 resistance level.