TASI Technical OverviewPosted on Sunday, January 21 2018 at 6:20 am GMT+0000
Testing previous weekly top.
The long-term trend keeps on adding to its Bullish stance after it initiated an attempt to clear its previous weekly cap and 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 reached 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. At the narrower side, short term traders who are waiting for a new opportunity can take advantage form the upwards break of the 7560 resistance level to target the 7590 and 7640 levels.