TASI Technical OverviewPosted on Tuesday, August 15 2017 at 4:59 am GMT+0000
The medium term having returned to Bearish, the recent break below 7160 has significantly weakened the technical picture and postponed any further Bullish scenarios. Therefore, no medium term positions are advised at the time being and traders shall patiently wait for clear Bullish reversal signs before considering the accumulation of new long positions. With the short term expected to remain Bearish, any further drop below 7070 would increase the downwards pressure and open the way for further slippage. At the present time, only a sustained rise above 7180 would change the short term outlook and allow for the activation of new positions.