TASI Technical OverviewPosted on Tuesday, August 8 2017 at 4:49 am GMT+0000
New Bearish stage.
The move below 7160 managed to complete a daily trend reversal changing by that the medium term trend to Bearish. That move paved the way for further losses, and 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. Hence, 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.