DEYAAR Technical Overview

DEYAAR Technical Overview

Probable double bottom.

With the recent break below 0.540, any bullish scenarios, on both the long and medium term, had been placed on hold, confirming forthcoming lower moves. But with the with medium term momentum indicators entering in the oversold territory, a minor pullback is taking place before bears grab control all over again. Short term traders might profit fro the extension of such medium term corrective move, hence a clear break above 0.549 will indicate the completion of a short term double bottom formation suggesting forthcoming higher highs towards the 0.565 and 0.600 areas.