TASI Technical Overview

TASI Technical Overview

Minor short term correction.

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, medium and short term traders who are waiting for a new opportunity can monitor for that correction to reach a strong demand zone before attempting a reposition or alternatively an immediate move above 7560.