TASI Technical OverviewPosted on Sunday, January 14 2018 at 6:25 am GMT+0000
Actively testing 7340.
The long-term trend keeps on adding to its Bullish stance while it initiates an attempt 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 and lately managed to surpass its previous daily top of 7240. Long term traders having already poured their investments in the market at 7120 should target 7500 and 8050. While for medium term traders who repositioned with the break above 7240, had their initial targets reached at 7310 and are now advised to trail their positions higher while patiently waiting for their second targets at 7400. Short term traders can take advantage of any move above 7340 and reinstate some new positions. Only an immediate drop below 7270 can alter the short term uptrend.