TASI Technical Overview

TASI Technical Overview

Initial targets reached.

Although the long term outlook remains Bullish, trend indicators point towards weakness in the uptrend. The move above the 6970 managed to complete a daily reversal pattern changing by that the medium term trend to Bullish. This move paved the way for further gains in the direction of the 7060 which was reached and the 7200 in the coming days given market conditions stay the same. Medium term traders shall trail their remaining longs to their entry level while patiently wait for the index to reach towards its second targets.