DEYAAR Technical Overview

DEYAAR Technical Overview

Fueled an attempt to break higher.

Following the formation of a new weekly bottom above 0.450 prices surged sharply and broke above 0.565, indicating towards a new Bullish stage in the long term. The break above 0.565 should have been attracted long term traders having caused a Bullish weekly trend reversal that increased odds for an extended move towards 0.625 initially. Above that level a stronger rally is expected that will probably expand beyond the 2017 top and most probably reach the 0.720 area. The medium term trend is still directed upwards and the recent correction had ended as evidenced by the short term Bullish reversal activated at 0.566. Medium and short term traders should have considered some new positions at 0.566 to target initially the 0.585 and 0.620 levels respectively. Those should remain ready to exit their positions with any surprising drop below 0.535 where the recent strong structure will be significantly denigrated.