TASI Technical OverviewPosted on Sunday, October 15 2017 at 5:13 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 7050 has significantly weakened the medium term picture and warned for a retest of the 6765 August low. A break below it would act as a catalyst for deeper declines, and even shift the current long term structure into a more neutral one. Therefore, all trading scenarios are placed on hold at the present time.