TASI Technical OverviewPosted on Tuesday, February 7 2017 at 5:30 am GMT+0000
Bullish scenarios on hold.
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. The recent break below 7070 is warning for extended corrective moves, prompting an early exit from the recently established medium term longs. For the meantime, only a clear break above the 7.68 daily top would restore the medium term Bullish picture. Such breakout could also confirm forthcoming higher high on the hourly charts.