Trade ideas
Task......4h= Analysis of the Saudi general index, the Tasi
= The analysis is based on technical analysis of the trend and price channels.
= The price crossed an ascending channel
= It is expected to reach the level of 11398.667, and when it reaches this level, it will make a correction or a horizontal path, and when it breaks it, it will go down to touch the level of 11032.137
TASI SHORT TERM LOOKS GOODLast week, TASI hold important level at 9950 which have been a solid support for it.
As I mentioned before TASI in a minor correction (ABC) after a great rally after corona bottom. Now, almost finished the first leg (A) which formed as (W-X-Y-XX-Z)
I think that TASI will pullback up as (B) will be a quick (ABC) targeting at least 11400 to 11800.
31May is an important date for TASI
(this is not a financial advice)
TASI to make slight correction and then uptrendTASI
Saudi Tadawul Index
On the daily chart, having a resistance level as technical indicator RSI is being overbought, and applying Fibonacci retracement, the index is likely to correct either 23% (11550) or 38% (11460), then rebound.
The next up wave will be begin after crossing up 11750, to target 12100
Note: The weekly and monthly charts are showing positive up potential.






















