TASI Technical Overview

TASI Technical Overview

Continuing its upward march.

The long-term trend keeps on adding to its Bullish stance while it initiates an attempt to retest its pervious weekly cap and most probably clear it to pave the way for further advancement. The strong sentiment is mirrored by the rising sequence of weekly tops and bottoms. The strength of this upward wave is also manifested by the medium-term trend which is continuing its rise and lately managed to surpass its previous daily top of 7240. Long term traders having already poured their investments in the market at 7120 should target 7500 and 8050. While for medium term traders who repositioned with the break above 7240, targets are outlined at 7310 and 7400 with the 7130 acting as the first line of defense.