Current Sentiment: Bullish

Support 1: 1.30                     Resistance 1: 1.49

Support 2: 0.98                     Resistance 2: 1.64

Although Delfi has no significant higher low and higher high to form an uptrend, all the technical factors are pointing towards a bullish sentiments.

• Inverted head and shoulder pattern formed. This is a classic sign of a bullish reversal pattern.
• Prices has been rejecting the right shoulder’s psychological support of 1.30 and it has been tested twice. Yesterday the market confirm its bullish rise by closing with a strong bodied candle.
• In addition, last Thursday and Friday’s candle has rejected the 200 simple moving average. A sign of uptrend confirmation.
• RSI has shown a bullish divergence. A stong bullish momenteum.

*Should the price falls below the support of 1.30 and traded lower for more than 5 consecutive days, the whole bullish call will be invalidated as the inverted head and shoulder is no longer valid.