Breaking Resistance: Good Days Ahead For Saudi Tadawul All Share Index

    • TASI showed a Double Bottom pattern at the support level after a significant drop, suggesting a possible trend reversal.
    • Following the breakout of the Double Bottom pattern, TASI encountered strong selling pressure at the resistance level and dropped sharply back to the previous support level.
    • There was a significant gap up after the correction, indicating buyer presence at the support level for TASI.
    • After consolidating, TASI successfully broke through the resistance level near the 11,850 and is now holding above the breakout zone.
    • The chart suggests that TASI is gaining momentum and is likely to continue its upward trend.
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