TASI trade ideas
Covid-19 Trend is Over? TASI did switch its previous upward trend into downward trend since May 2019 regardless of Covid19.
And then it did start short term upward trend that I think it is about to end soon and then continuing on the downtrend trend that started earlier unless there is a good reason to not.
It’s like a flight had to do emergency landing and then take off again. And now it’s almost ready for landing, unless that is going to be cancelled for unexpected reason...
Possible Bearish ABCD PatternTADAWUL:TASI index could reach 6750.00 especially if it closes under 7396 in the weekly time frame.
Saudi Tadawul Bulls are here watch outMarket have almost crossed the resistance zone it have also retested it successfully after the breakout, its also above 200 ema which is bullish, its also making higher highs and higher lows as per my analysis its good to go higher from here.
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$TASI is more burI think the market is more bearish than bullish because of the Downtrend but the Bollinger band charts, Furthermore, it seems neutral from MACD.
TASI Started its C wave down - TGT is 7250 area give or takeTASI Started its C wave down
** Not a trading advice
TASI in AugustI think that TASI going to hit its top in the short term upward trend in mid of August to switch back to its long term downward trend, if there was no good reason supporting the previous behavior.
Double bottom?This looks like double bottom to me. Please don't take this as advice of any kind. I am just learning and saving ideas for future use.
There are some patterns but not sure what they means.Just wanted to see how the market looks like long term. I am not an expert in any sense but looks like it might be okay for the next few months.
I wish someone expert good give his/her feed back.
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.
