TASI Technical OverviewPosted on Tuesday, September 5 2017 at 4:39 am GMT+0000
Rebounded from 7220.
The market was unable to sustain gains above 7180, and started declining after painting a new 52-week high at 7580, revealing weakness in the ongoing weekly trend. Hence long term traders shall remain cautious and wait to see whether the Bulls are strong enough to start a new attempt to cross that level before attempting to acquire any new positions. In the short term, traders who bought at 7260, after the confirmation of a new intraday bottom that contained the preceding correction, should hold to their positions and target the 7330 and 7390, with clear stop below 7220 as such move would open the way for further losses and alter the current sort term structure.