About Tadawul All Shares Index
The Tadawul All Shares Index, or TASI, is a major stock index tracking the performance of all companies listed on the Saudi Stock Exchange (Tadawul). It was first compiled in 1985 with a base value of 1000. With top Saudi companies within its components, like Riyad Bank and Al Rajhi Bank, the TASI index provides a great view of the Saudi equities market — fast-growing and full of potential.
Short Saudi Index TASI
On the daily chart divergence in RSI for highs of Dec-2019 and Jan-2020 indicated weakness in the up move within the channel.
Index has broken out of channel in last few days with both daily and weekly RSI now below 50 indicating weakness.
Index expected to continue its move back towards 770
Saudi Arabia Stock Market(TASI) in downtrend for next few months
Looking at the weekly chart from Feb-2018 it looks like index is in the second half of right shoulder of Head and Shoulder Pattern.
The high of left shoulder around 8450-8460 range has again acted as a resistance during the formation of right shoulder high.
This is also 61.8% retracement of p
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