TASI Technical Overview

TASI Technical Overview

Signs of weakness.

Although the long term outlook remains Bullish, trend indicators point towards weakness in the uptrend. With a probable daily reversal on the making, Bullish scenarios on the medium term had been placed on hold. Previous uptrend in the medium term has lost strength following the test of the previous daily top at 7200 and momentum triggers are warning of a return of Bearish sentiments. While in the short term the 6910 is outlined as the first pivot, only a break above the 7030 would complete an intraday Bullish reversal and change near-term outlook.