TASI Technical OverviewPosted on Sunday, July 9 2017 at 5:06 am GMT+0000
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. The subsequent corrective move lower is not surprising since the market reached overbought conditions, and traders of the medium term should take advantage of this correction in order to reposition, where entries should be activated only after clear reversal signs.