TASI Technical OverviewPosted on Sunday, July 2 2017 at 5:19 am GMT+0000
Long term uptrend resumption.
A higher bottom at 6700 was confirmed on the weekly charts after the market managed to successfully break above the previous top at 7300, opening the way for further gains. That move should have attracted long term traders to activate new longs in the direction of 7650 and 8200. All trend indicators are positive and backing up the Bullish outlook. However a correction lower is expected in the near-future due to the extreme overbought state recorded by the oscillators, pushing short term traders to remain on the sidelines for now.