TASI Technical OverviewPosted on Tuesday, May 23 2017 at 4:30 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. And although the recent Bullish reaction has shown first signs of weakness in the medium term Bearish bias, traders are advised to remain neutral for the meantime. Focus turns now towards the short term scenarios where a new Bullish trend is on the play after the market managed to successfully break above the previous intraday top at 6940 opening by that the way for further gains. And with initial short term targets being reached at 6990, short term traders should trail their position to the entry level while waiting for their final targets.