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The Tadawul All Share Index (TASI) started last week with a sharp gap-down but gradually recovered, ending the week up by around 1%.
Technically, the index is now testing a key resistance zone between 11,700 and 11,800, which we mentioned in earlier analyses. A clear breakout and close above this level could open the way for further upside. However, if it fails to move past this zone, a pullback toward the 11,300–11,400 support area is possible in the coming sessions.
While the overall trend stays positive, some short-term volatility is likely. Traders should stay cautious and avoid taking aggressive long positions until the index breaks and holds above the resistance zone.
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
