TASI Technical OverviewPosted on Tuesday, October 24 2017 at 4:45 am GMT+0000
Although the weekly charts continue to reveal a strong Bullish trend, the current correction is approaching the previous weekly bottom. Hence long term traders continue to remain neutral while waiting for that correction to end near a strong demand area before attempting to acquire any new positions. However the medium term continues strongly Bearish and the market is actively testing an important support level at 6850, below which odds for a retest of the 6710 March low will be increased. At current time, only a sustained rise above 7030 will shift the bias to Bullish and allow for medium term positions.