TASI Technical OverviewPosted on Sunday, February 25 2018 at 6:04 am GMT+0000
Testing intraday resistance.
No major developments are being felt in the long term trend and the picture remains obviously Bullish. Long term traders long from 7120, are still joining their profits after the market reached their initial targets and will hold their positions towards 8200. However in the medium term, although the extended correction reaching below 7470 exposed some weakness to the prevailing Bullish structure, prices still endorses the sharp upward movement after the significant set of consecutive winning weeks. Those positive sentiments are evidenced by short term Bullish trend that is still in progress and will further strengthen with a move above 7560. That Bullish breakout will open the scope for a move towards previous Highs, and thus, can act as trigger for short term longs.