TASI Technical OverviewPosted on Tuesday, January 16 2018 at 5:53 am GMT+0000
Approaching previous weekly top.
The long-term trend keeps on adding to its Bullish stance while attempting 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. Now since the market approached the 7500 level marked as the initial target of the long term positions activated at 7120, traders are allowed to trail their positions higher towards their entry level. And with the market approaching a critical weekly resistance, a minor short term pullback could be on the play. Such correction can provide new buying opportunities for both medium and short term traders once triggered.