Following a downtrend since May 2017 DNEX has turned to the upside by a V-bottom formation. However, the price reacted at Fibonacci level 1.618 coincide resistance level in late 2019 for a pullback and found support at 0.175. On Jan 20 the price has significantly breakout above DTL, edging higher to Fibonacci level 2.618 coincide resistance in Oct 2018 marked as R2 and overbought condition seen on RSI. Traders need to be cautious at this level as reversal or a pullback might occur. Bullish continuation pattern will confirm further movement to the upside.
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Disclaimer: Our content is intended to be used and must be used for technical analysis education purposes only.