TASI Technical OverviewPosted on Sunday, February 11 2018 at 6:43 am GMT+0000
Signs of weakness.
No major developments are being felt in the long term trend and the picture remains obviously Bullish. Long term traders long from 7120, are still joining their profits after the market reached their initial targets and will hold their positions towards 8200. However in the medium term, the rally stalled, and extended correction reaching below 7470 exposed weakness to the prevailing Bullish structure with daily indicators amplifying that view. Therefore, traders found themselves obliged to remain neutral at the present time and patiently wait for the current reaction to reach a strong demand zone and then try to reinstate some new positions only after clear reversal signs.