TASI Technical OverviewPosted on Tuesday, June 20 2017 at 4:30 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. While in the medium term, following the formation of a daily bottom above 6750, the market managed to successfully break above the previous top at 7000, opened the way for further gains. That move should have attracted medium term traders to activate new longs in the direction of 7100 and 7260. The 6790 continues to be significant, and is acting as a prospective stop for the recently activated medium term positions.