TASI Technical Overview

TASI Technical Overview

Correction stalled.

The long-term trend keeps on adding to its Bullish stance after it initiated an attempt to clear its previous weekly cap and pave the way for further advancement. The strong sentiment is mirrored by the rising sequence of weekly tops and bottoms. The strength of this upward wave is also manifested by the medium-term trend which is continuing its rise. The recent correction found a strong demand zone at 7470 and signaled the resumption higher after the move above 7510. For traders long from 7510 targets are outlined at 7620 and 7700. Only a drop below 7470 can ease the current short term Bullish momentum and open the scope for a further correction.