Technical analysis for Tadawul All Shares Index TASI "Saudi stock market" , 3rd of October 2017
Ok, This time I will represent from the above chart so be focus on it, as you see it's daily time frame from January 2017 till now, the last two weeks; saudi market index declined from 7428 to 7244 & now losing declining acceleration due to impact with the support area no.01 (confirmed by three peaks & one bottom & one breakthrough rally) , also the current value now is approaching a potential trend line (confirmed if tested again and successfully function).
My point of view is that the next move will be rising by maximum 7365 (resistance) then back down again testing the potential line (I believe it will succeed) then the value will make a big move upwards breaking the 7428 level heading to 7586 (Historical peak of the year).
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