TASI Technical Overview

TASI Technical Overview

Signs of support.

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 where a minor pullback was initiated as an outcome of the aggressive overbought state recorded on the 4th of December, this move shall be treated as a renewed market entry provider as a direct break above the 7140 could signal the resumption of the short term Bullish bias. In contrast, a break below the 7020 would warn for deeper correction.