TASI Technical Overview

TASI Technical Overview

Testing previous weekly bottom.

The long term uptrend has shown first signs of weakness with the market approaching the previous weekly bottom of 6710. Despite the recent recovery, the medium term remains strongly Bearish and downward momentum can be restarted at any time pushing the index lower below 6710. From there, medium term Bearish prospects will be strengthened and the long term outlook will start to look more neutral. Therefore, all trading scenarios continue to remain on hold at the time being.