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TASI

SAUDI ARABIA WEATHER = LARGE & NARROW RANGE -$TASI- 3OMN - IDEAThanks for your like! Please also share to benefit the most! Much appreciated! _______________________________________________________________ The all Saudi Arabian shares index TADAWUL have seen first an acceleration of the fall to finally recover a little bit lately. Now in a narrow range, we can see that it is framed by a wider range still legit. Zone 1 and zone 3 are the next possible moves . Lines will be broken probably by a large candlestick or a large gape. In fact, we have seen the market jumping from one range to another just by using "impulsive gapes". This market doesn't offer much data , the study of the candlesticks reveals that actual support has been tested several times but not been broken. If the market goes beyond, this will possibly be a smart entry point for long fall. In the other side , the actual resistance (narrow range) seems to be less strong and possibility of seeing it broken are also likely as it is a very weak point. This will go in the sense of a consolidation of the price.
TADAWUL:TASI
by Diallo_Charts_Ideas
Technical Analysis Update: Tadawul All Share Index (TASI) - SaudSummary • TASI / KSA break out of bull head & shoulders bottom trend reversal pattern. • Indicates continuation of long-term upward sloping trend channel. • Key Fibonacci zone targets marked on enclosed charts. Bullish reversal is indicated as the Tadawul All Share Index (TASI) (Saudi Stock Market) breaks out of a head & shoulders bottom reversal pattern at the start of the week. The pattern formed following the completion of a 78.6% Fibonacci retracement of the near-term downtrend. A continuation of a long-term uptrend channel can be anticipated with an eventual rally back to the top of the channel. Fibonacci retracement and projection levels are marked on the enclosed charts to identify potential near and long-term price targets. Nevertheless, a decisive daily close below the head at 7,396.60 is a failure of the above bullish scenario, while a daily close below the right shoulder at 7,808.54 puts the bullish scenario at risk and requires a new assessment. Investors in US markets can access the iShares MSCI Saudi Arabia ETF (KSA) ETF for exposure to the Saudi Arabia stock market. An upside breakout in KSA occurred this week as price closed above $30.56 on a daily basis. Support at the bottom of the right shoulder of the head and shoulders bottom reversal is at $28.97, while the bottom of the head is at $28.04. Fibonacci target levels for KSA are noted on the weekly chart below.
TADAWUL:TASILong
by BrucePowersCMT