Three Weeks of Gains! What’s Next for TASI?

The Tadawul All Share Index (TASI) recorded its third consecutive weekly gain, advancing by over 1.5% to close just below the 11,500 mark.

On the technical front, the immediate resistance zone is placed around 11,600–11,700, and a sustained move above this range could open the door for an upside towards the 12,000–12,100 region.

On the downside, as long as the index holds above the 11,000 support level, overall market sentiment is likely to remain positive.

However, in the near term, TASI is expected to move sideways, waiting for fresh cues to decide its next direction.

For short-term traders, it would be prudent to await a confirmed breakout above the resistance zone before initiating fresh long positions, as this would signal renewed bullish momentum in the market.