TASI Technical OverviewPosted on Sunday, June 18 2017 at 5:02 am GMT+0000
Signs of weakness.
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. While the medium term outlook is remaining neutral and trend indicators signaling towards a stronger Bearish side. In the short term the corrective wave has broken though initial pivot levels and reached 6790 before retreating briefly. A further close below that level will cancel any potential Bullish scenarios as the market searches deeper for a stronger support level to contain to downward pressure. Only an immediate break above 6870 would encourage short term traders to activate new positions and target a rally within the medium term range.