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DFMGI trade ideas

Dubai Financial Market - INDEXThe index was powerful today with most of the stocks in green, it gave a nice and deceive breakout candle i see a small resistance at 1994 area. This is a important high as of today as this is the first high after hitting to the lowest point this month. Hopefully we see more positivity and the index pushes higher. Index is about the test 50 ema soon also RSI is just about to touch 50 which is important level to cross for short term up trend. Happy Trading
DFM:DFMGILong
by stalkstock
4
Dubai Financial Market IndexThe index is heavly over sold and in a serious down trend since beginning of Jan 2020 almost 41% down from the Jan peak! i see a pin bar on a weekly chart. Have we reached bottom? may be we can see a solid green candle to say that short term uptrend or a retracement is in progress....i wish to see the index to resume uptrend very soon ...very soon above 200 ema. Lets keep a watch, i you have any ideas on this please do share with me. Happy trading !
DFM:DFMGI
by stalkstock
Medium Term Outlook on Dubai Financial Market General IndexOn October 2015, I had presented a scenario which depicts an ongoing correction since the top in 2014.  During that post, I indicated that the DFMGI is undergoing what is known under Elliott Wave terms as a double Zig Zag.  The count, I present today does maintain the same view, with the count now near completion. The duration of the correction  has gone beyond what was expected, considering the expectations for Oil and commodities in general was to start a rally by 2016, I refer to the posts on my blog on 26th October, 2015 "Long Term Outlook on USD", and subsequent posts on metals in Q2 2016 calling for early phase of a new uptrend in metals. The DMFGI did join the start of the Oil rally in 2016, however it turned out to be just a continuation of the Zig Zag correction forecasted. Today, we are at the very last stages of that correction and we should be soon in accumulation phase for a new uptrend that is at least equal to the rally that took place between 2012 and 2014. That said, there is an alternate scenario which I am not presenting today, that would see the correction prolonged for at least another year or two. In this alternate scenario the index would still rally in 2019 but fails to break 3740 and and reverts lower in one last leg of of decline. This short term scenario would be looked into, judging how the rally in 2019 will look like. Should the rally in 2019 break 3740 to the upside then below count will be confirmed. On short term, we can yet expect for one more small push lower which would then conclude the pattern or alternatively we would get a small correction upwards to 2900-3000 levels over next months extending into January 2019 when prices would then revert lower for one last push into lows of 2400 +/-, which is the scenario considered below. In either case we are looking at a sizable move upwards to start in Q1 2019.  For the time present, I would be looking for confirmations to indicate that an uptrend has started. We have early soft confirmation with the MACD divergence, but we would also require confirming price action which so far is absent.
DFM:DFMGILong
by Markism
1