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The Tadawul All Share Index (TASI) faced intense selling pressure last week, sliding over 2% to close at 10,709 — clearly showing that bears are in control.
As highlighted earlier, sustaining below the key 11,000 level opens the door for a sharper correction toward the 10,500 zone — and that scenario is now unfolding.
Adding fuel to the fire, rising geopolitical tensions between the U.S., Israel, and Iran have increased regional uncertainty and concerns over oil supply disruptions through the Strait of Hormuz. While higher oil prices may cushion energy stocks, broader risk-off sentiment could weigh heavily on banks and non-oil sectors.
A gap-down opening looks likely, with 10,500 acting as the next major retest zone.
No strong bullish move is expected unless TASI reclaims 11,000 decisively.
The coming week could remain challenging — caution is key, and fresh buying may be best avoided until stability returns.
Arijit Banerjee CMT CFTe is a seasoned expert in the financial industry, boasting decades of experience in trading, investment, and wealth management. As the founder and chief strategist of Naranj Capital, he’s built a reputation for providing insightful research analysis to guide investment decisions.
Arijit’s credentials are impressive, holding both the Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) designations. These certifications demonstrate his expertise in technical analysis and financial markets.
Through Naranj Capital, Arijit shares his market insights and research analysis, offering actionable advice for investors. His work is featured on platforms like TradingView, where he publishes detailed analysis and recommendations.
If you’re interested in learning more about Arijit’s work or Naranj Capital’s services, you can reach out to them directly through their website
