TASI Technical OverviewPosted on Sunday, December 4 2016 at 5:29 am GMT+0000
The recent break above the weekly top at 6875 raised confidence for an extended long term advances targeting at least the 7800 level. Initial targets being reached for existing medium term positions allowing for partial profit taking at 6895 and a trail of Stop orders to previous entry level of 6690. Moving to the short term Bullish pressure above the key level 7000 drove oscillators towards an excited overbought state, raising expectations that prices could correct lower before the Bulls seize control again. Therefore short term traders shall monitor any downside extension that could act as new buying opportunities provider.