DIC Technical Overview

DIC Technical Overview

Reversal above 2.20.

The recent drop below the 2.19 long term support had completed a Bearish reversal, obliging traders to remain outside of the market. That breakout pushed the share for a break through the downside barrier of the medium term range, and paved the way for a deeper downward move that reached the strong daily support of 2.05 before bouncing off this demand level. But with a medium term correction on the making, focus turns towards the short term scenarios, where an immediate break above 2.20 would activate a Bullish reversal. Conversely, any dip below the 2.09 would cancel any probable scenarios and bring emphasis for further declines.