ARABIAN BOURSES | DFM Technical Analysis
DFM
DFM
DFM
ADXADX
DAILYADX
TOP
AT 3400
RECOMMENDATIONS:
Long Long
termterm
traders
traders
Long term traders
Long term traders
MarketMarket
strongly
bearish
strongly
bearish
- Nopositions
Long positions
- No Long
Source: Tradepedia: Data as on March 29, 2016
Market strongly bearish
Market strongly bearish
- No Long positions- No Long positions
Weekly charts continueLong
to reflect
a traders
resistance level at 3400. With the
term
strong downtrend, with the long term
term still in a downtrend
Mediummedium
term traders
Medium
term
traders
corrective wave surpassing
despite the recent rally, only a break
Marketinitial
strongly
bearish
bearish
resistance levels and extending
to Market strongly
above
previous Daily top above
- No
Longbearish
positions
Market
strongly
No
Long
positions
secondary level at 3400.
3440 will confirm Bullish reversal
No Long
positions
The daily chart-has
formed
a non
patterns and change the outlook
failure swing pattern with the break
in the medium term. The extended
above previous Daily top in 3200,
correction
termreaching
traders above the Top of
Medium term tradersShort
however trend characteristics in the
December 2015 at 3200.up the the
medium term remain
Bearish
as long
previous
at 3200 has weakened
Short
term traders
Waiting
for a top
retracement
Market strongly
bearish
as the market continues
below
newly
the
structure
of the downtrend
to
initiate
new
positions
- No Long positions
Waiting for a retracement
formed top at 3400.
although lower troughs remain in
In the short term, downwards
place. At current times, long and
to initiate new positions
correction coming from the Daily top
medium term traders
to be6618
Tel: continue
+971 4 352
at 3400 is testing initial
support,
and
neutral unless
a break
above 3440
Email:
[email protected]
|
Web:
www.tradepedia.com
Short term
traders
forming Bearish reversal patternsS1
to 4250
activates
long positions.
Projection
Level However
be activated below 3240 warning of a
Bearish pressure is expected to resume
Waiting for S2
a retracement
Projectionterm
Level
4100
return of Bearish momentum towards
in the medium
with the 3240
to initiate newProjection
positionslevelLevel
an extended bearish move.
providing an early warning
Topto further
R1 4600
“The long term outlook remains
towardsDaily
a shift
Bearish
March
29, 2016
Projection
Level
Bearish currently testing secondary
momentum. “
CURRENT
3259.43
owntrend,
ng initial
SEC
Trend
S1 4250
S2 4100 R2 4800 Retracement Level
R1 4600 Daily Top
LevelLevel
S1R2 4250
4800 Projection
4320
S1 4270
R1Retracement
Level
S2 4100 Projection
S2 4230
R2 4350
S3 4050
R3 Top
4380
R1 4600 Daily
4270
R1 4320 R4 S1
4428 LevelS4 3935
Retracement
R2R2 4800
4350
S2 4230
S3 4050
R3 4380
4428
3935
S1S4 4270
R1R44320
S2 4230
R2 4350
S3 4050
R3 4380
R4 4428
S4 3935
PR.CLOSE
CHANGE
52 W HIGH
52 W LOW
30 D ATR
40 W ATR
3279.16
-1.19 %
4247.16
2621.96
34
139
LT EMA
LT MACD
y level at
ST EMA
ST MACD
Wave
RSI
ing
ROC
top in
medium
IMI
State
Histogram N
ROC
N
ated
omentum
Market
bearish
- No
Longstrongly
positions
Market strongly
- No Longbearish
positions
- No Long positions
Medium term Short
traders
term traders
Waiting
reversal signs
Short
termfortraders
Market strongly
bearish
before attempting new
WaitingLong
for reversal
- No Long positions
positions signs
before attempting new
Long positions
SIGNIFICANT
LEVELS:
Short term
traders
3240
S1 for
Intraday Reversal
Waiting
reversal signs
Retracement Level
before
3100 new
S2 attempting
3240
Intraday
Reversal
Long positions
S1
R1 3420 Daily Top
Retracement Level
S2 3100
R2 3930 Projection Level
R1 3420 Daily Top
S1 3240 Intraday
Reversal
R2 3930
S1 Level
3248
R1 3300Projection
Retracement Level
S2 3100
S2 3183
R2 3340
R3 3390
Daily Top S3 3079
R1 3420
R1 3300
R4 3425 S1 S43248
Projection Level2853
R2R23930
3340
S2 3183
*R-resistance; *S-support
INTRADAY PIVOT LEVELS:
R3 3390
3425
R1R43300
R2 3340
R3 3390
R4 3425
S3 3079
2853
S1S4 3248
S2 3183
S3 3079
S4 2853
*R-resistance; *S-support
ming from
, and
Long term traders
Medium
termbearish
traders
Market
strongly
Medium
term
traders
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April 2016
| www.wealth-monitor.com
"The
long term outlook remains Bearish currently testing
secondary resistance level at 3400. With the medium term
35