TASI Technical Overview

TASI Technical Overview

Resuming higher.

The long-term trend keeps on adding to its Bullish stance after it cleared its previous weekly cap after bouncing from the 6700 area. The strength of this upward wave is also manifested by the medium-term trend which is continuing its rise. Prices crawled well above the 7640 level marked as the initial target of the medium term positions activated at 7510, allowing traders to trail their positions higher towards 7560, while long term traders long from 7120, are joining their profits and will hold their positions towards 8200. On the narrower side, after reaching both of their targets last week, shorter term market players will have the chance to reposition with the upwards break of 7700 and set new targets around 7750 and 7830.