TASI Technical OverviewPosted on Tuesday, September 12 2017 at 4:45 am GMT+0000
Weak Bearish structure.
The market was unable to sustain gains above 7180, and dropped aggressively after painting a new 52-week high at 7580, revealing some weakness in the ongoing weekly trend. Hence long term traders shall remain cautious and wait to see clear Bullish reversal signs before attempting to acquire any new positions. At the other hand, although trend characteristics have lost strength in the medium term following the break above the previous daily top of 7370, bias still remains Bearish, and traders shall stay neutral waiting for clear Bullish developments before ruling out any further declines.