TASI at a Crossroads: Breakout or Pullback Ahead?

Weekly Chart

• The weekly chart suggests that TASI is currently testing a long-term trendline resistance, with the potential for a breakout.
• For a strong upward movement, the index needs to successfully surpass and sustain above the 12,900 level.

Daily Chart

• Meanwhile, the daily chart indicates a possible pullback towards the 12,300 level.
• Such a retracement appears necessary to sustain the overall uptrend.
• However, if the index falls below 12,300, it could trigger a significant decline, potentially leading to a period of consolidation.