DFMGI Technical Overview

DFMGI Technical Overview

Remains under pressure.

The long term outlook remains neutral, and following a retest of the critical resistance at 3690, Bearish momentum had been restarted pushing the index below the lower-end of the medium term range at 3530. That move indicated the initiation of a new medium term Bearish stage and gave scope for further declines, preventing by that any forthcoming trading scenarios until clear signs of reversal are confirmed. However, the subsequent short term correction was not surprising after negative sentiment reached quite extreme levels, and Bearish momentum is expected to return driving prices below