TASI Technical OverviewPosted on Sunday, June 11 2017 at 5:03 am GMT+0000
Having in mind the given trending characteristics, long term traders should remain neutral at current time with the aim to reposition only after stronger technical picture appears on the long term charts. And with the medium term outlook remaining neutral, focus turns towards the short term, where a new uptrend had been initiated following the recent break above 6900. Now that the market moved lower, shorter term traders shall take advantage form this correction in order to reposition. The market is currently testing the intraday support at 6850 and entries should be activated only after clear reversal signs. At the meantime, only an immediate break above 6980 could confirm such scenario and act as trigger for short term positions.