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TASI

Saudi Arabia's TASIThe familiar wedge off the March lows. The very recent price action looks a little more consolidating, almost as if it wants to push up one more time. And given Saudi Arabia's dependence on the price of oil, perhaps a bump on that will do, even if the other markets deteriorate more first. The long-term chart (below) looks like a long, consolidating period, a huge wedge. Given that the flag that is forming now has so much overlap in price, it certainly looks corrective rather than impulsive. If that is true, I would expect the March lows to be taken out somewhat decisively rather than seeing us move up out of the wedge.
TADAWUL:TASIShort
by CHTradingGroup