TASI Technical OverviewPosted on Tuesday, August 1 2017 at 4:39 am GMT+0000
New Bearish stage.
A new medium term Bearish stage had been initiated after the market managed to drop below the previous daily support at 7160 signaling for extended declines. That move confirmed the strength of the short term Bearish bias. Short term trend indicators are also detecting an ease in the downside speed backing the new outlook. With Bearish scenarios continuing to develop, traders of both the medium term are advised to remain neutral for the time being and patiently wait for a clear daily reversal pattern before considering any new market entries.