ALDAR Technical Overview

ALDAR Technical Overview

Testing 2.44.

The share maintains its Bullish medium term outlook despite the recent slight loss in momentum. The current trend structure is still showing that the Bull Run is expected to remain intact and a further rally above 2.44 would reinforce the uptrend and signal towards the accumulation of new longs. There are no clear signs of a reversal from the recent uptrend yet. While short term indicators are reflecting mixed signs suggesting that there could be some consolidation in the market in the near-term. At the time being, major short term resistance is now at 2.41. Clearing the 2.44 peak would see a resumption of the medium term uptrend, and bring the short term structure to Bullish from the current neutral picture.