TASI Technical OverviewPosted on Tuesday, October 10 2017 at 4:39 am GMT+0000
Although the weekly charts continue to reveal a strong Bullish trend, long term traders continue to remain neutral while waiting for the recent correction to end near a strong demand area before attempting to acquire any new positions. The recent drop below 7200 has significantly weakened the medium term picture and warned for a retest of the 7058 August low. A break below it would act as a catalyst for deeper declines. Therefore, all trading scenarios are placed on hold at the present time.