TASI Technical Overview

TASI Technical Overview

Probable reversal.

Primary trending characteristics continues to be weak; therefore a confirmation of a support is needed before validating the next weekly buying signal. And although the recent Bullish reaction has shown first signs of weakness in the medium term Bearish bias, traders are advised to remain neutral waiting for reversal patterns before cancelling out any further decline. With a medium term correction on the making, short term traders shall monitor for a direct break above the 6940 which will complete an intraday reversal to the upside and allow for short term positions. While any break below 6850 will cancel any probable Bullish scenarios and accelerate the declines.