TASI Technical Overview
Posted on Tuesday, January 24 2017 at 5:26 am GMT+0000Corrective phase.
The recent long term move above the previous weekly top at 6900 shifted the weekly overview to Bullish raising expectation in the market’s ability to continue its rally targeting at least the 7800 level and a break above that could move the battle even higher towards the 9410 barrier. While in the medium term a decisive move above the 7020 would increase the likelihood the last pullback was just a corrective phase and that the medium term Bullish bias could be resuming. Medium term traders shall bear in mind the proximity of the support confirmed at 6740, as any move below that level could cancel any probable Bullish scenarios and target further declines.
| TASI-EN 2017-01-24 |
