TASI Technical OverviewPosted on Sunday, May 14 2017 at 5:33 am GMT+0000
Primary trending characteristics continues to be weak; therefore a confirmation of a support is needed before validating the next weekly buying signal. At the other hand, Bearish pressure below the 6880 level, confirmed the intention of the market to continue to lower levels, and is warning for a retest of the 6700 barrier. Furthermore any decline below the 6820 intraday bottom, would add to the short term downtrend, pushing traders to remain expectant for further Bearish implications. Therefore they shall wait for the completion of a reversal before attempting to acquire any new positions.