TASI Technical OverviewPosted on Tuesday, February 20 2018 at 5:35 am GMT+0000
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, although the extended correction reaching below 7470 exposed some weakness to the prevailing Bullish structure, prices still endorses the sharp upward movement after the significant set of consecutive winning weeks. Those positive sentiments are evidenced by strong short term Bullish trend which is continuing to rise in an aggressive manner lacking any proper upward correction since the reversal activated above 7450. Short term traders that took advantage from the mentioned reversal and having liquidated their positions at 7510 should be monitoring for any downside retracement that might provide them with new market entry opportunities.