TASI Completely on the Back Foot: Is 10,000 the Next Stop?

The Saudi market started last week with a strong gap-up, but the momentum didn't last. TASI reversed sharply and ended the week lower, down around 0.15%.

The bigger concern? The index has once again slipped below its key 10,400–10,500 support zone.

The technical picture is getting weaker

TASI has broken below its long-term trendline and is struggling to recover. The latest move suggests sellers are still in control.

Here are the key levels to watch:

🔻 10,400–10,600: Immediate resistance. The index needs to reclaim this zone to improve the outlook.

🔻 10,000: Next major support, near the lower boundary of the falling channel.

If selling continues, the 10,000 level could be the next important test.

Geopolitical risks add to the pressure

Rising tensions between Saudi Arabia and the Houthis have increased concerns over regional security and possible oil supply disruptions.

This uncertainty is adding pressure to investor sentiment at a time when the technical picture is already weak.

What should traders do now?

This is not the time to fight the trend.

With both technical signals and geopolitical risks pointing to caution, rushing into fresh long positions could be risky.

Let the market settle. Wait for buyers to return and form a convincing bullish pattern before considering new entries.

The key question now is simple: Can TASI recover 10,400–10,500, or will 10,000 be the next stop?

For now, protecting capital matters more than chasing a falling market.