TASI Technical OverviewPosted on Tuesday, December 13 2016 at 5:21 am GMT+0000
Bullish bias resumption.
The recent break above the weekly top at 6875 raised confidence for an extended long term advances targeting at least the 7800 level. Final targets being reached for existing medium term positions allowing for full profit taking at 7230, traders will be monitoring for any downside extension which might bring about renewed buying opportunities. Moving to the short term where the last move above the 7140 point provided traders by a new entry point, with near-term targets outlined at 7310 and 7500. At the other hand, any break below the 7020 would prompt a direct exit of the recently established positions.