TASI Technical OverviewPosted on Tuesday, December 19 2017 at 5:30 am GMT+0000
Added to its Bullish stance.
After the sharp correction, the market found solid ground and shown intension to resume higher after the completion of a medium term reversal pattern above 7120. The surge above the previous daily top is regarded as an encouraging sign that will lead the way towards the 7500 area and most probably towards fresh highs. As a result long term traders should have poured their investments with the upward break of 7120 to target 7500 and 8050. After the break above 7120 it was clear that a new medium term Bullish trend is set in the market, and the recent move above 7160 added to the new structure encouraging medium term traders to reinstate positions where they will be targeting the 7230 and 7320 levels. Those shall remain ready to exit their positions after any drop below 7060.