DFMREI : Is Downtrend Over ?DFM:DFMREI (Dubai Financial Markets Real Estate Index)
📉 Is the Downtrend Over? Reverse Fibonacci Suggests Another Leg Lower ⚠️
After rejecting from the 16.8k trendline resistance, the market continues to respect its broader bearish structure.
Here's what the chart is telling us:
🔹 The previous impulse moved from a 13k swing low to a 16.8k swing high, which also aligned perfectly with a major descending trendline resistance. Applying a Reverse Fibonacci Extension projected the 10.6k zone as
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