Wealth Monitor April 2016 | Page 38

ARABIAN BOURSES | TASI Technical Analysis Long term traders erm traders rongly bearish positions m traders arish Market strongly bearish Long term- No traders Long positions Market strongly bearish - No Long positions term traders The long term corrective wave Long the Daily reversal pattern. Medium termBullish traders initiated above the 5350 low has Medium term traders to have at least Market strongly bearish Market strongly bearish reached first important weekly liquidated half of ongoing trades at - No Long positions - No Long positions resistance identified as the 23.6% first target level of 6400 and initially Medium term traders Fibonacci level retracement from the trailing positions to entry. With the top of 9900 outlined in Market May 2015. strongly bearish short term consolidation ongoing This area presents a clustering first term support at 6190, allowing No Long positionswith Short traders erm tradersof further fibo levels on-Medium the daily term traders positions to be trailed below the Waiting for reversal signs timeframe, representing the first support level. Downwards break of or a retracement target area of the BullishMarket strongly bearish before attempting new reversal of the 6200 level would act as an early new positions March 2016. Long positions - No Long positionswarning to resume the long term In the short term, after findingShort term traders Bearish pressure targeting a retest of resistance below 6530, the market Waiting for reversal signs previous lows at 5500, with extended is consolidating in preparation for Tel: [phone] before attempting new move towards new lows below 4800. the next directional move, currently Short term traders Long positions Email: [email protected] | Web: www.tradepedia.com Projection Level an immediate break above the 3240 S1 Only Intraday Reversal contained by the 6200 previous Waiting for reversal signs previous daily top at 6530 will push bottom level acting as initial support. Projection Level Retracement Level 3100 the market an extended beforeS2 attempting newtowards “The long term corrective wave corrective wave, targeting secondary Long R1 positions Daily Top has reached initial resistance level, Top 3420 atDaily coinciding with first target of resistance 7000.“March 29, 2016 Retracement Level S1 el S2 S3 350 S4 el 4270 6286 4230 4050 Trend 3935 CURRENT xt 6257 SEC  LT EMA  LT MACD  ST EMA  ST MACD  Wave s 0, PR.CLOSE State IMI  RSI  ROC  Histogram N ROC 36 N S1 S2 S1 R1 S2 R2 R1 R2 R1 R2 R3 R1 R4 R2 R3 R4 3240R2 Intraday Projection Level 3930 Reversal 3100 Retracement Level CHANGE3240 52 W HIGHIntraday 52 W LOW 30 D ATR 3300 TopReversal S1 3248 3420 R1 Daily -1.48 % 9885 5397 79 Retracement Level 3100 3340 S2 R2 3183 Projection Level 3930 3390 Top S3 3079 3420R3 Daily R4 3425 S4 2853 Projection Level 3930 3300 S1 3248 3340 S2 3183 S3 3300 S1 3079 3390 3248 S4 3425 3340 S2 2853 3183 S3 3079 3390 S4 2853 3425 40 W ATR 309 TASI TASI TASI RECOMMENDATIONS: Long term traders Market strongly bearish Long traders - Noterm Long positions Market strongly bearish - No Long positions Longterm termtraders traders Medium Long Market above 6100 trailedbearish strongly to 6190, targeting 7000. Longtraders positions Medium- No term Long above 6100 trailed Short7000. term traders to 6190, targeting Medium term Waitingtraders for reversal signs beforetrailed initiating new long Long above 6100 positions. to 6190, Short targeting 7000.traders term Waiting for reversal signs Previous S1 before 6200initiating newBottom long Short term traders SIGNIFICANT LEVELS: S2 positions. 6000 Retracement level Waiting for reversal signs new longLevel Retracement 6550initiating R1 before positions.Previous Bottom S1 R26200 Level 6750 Projection S2 6000 Retracement level Previous Bottom S1 6200 Retracement R1R1 6550 6346 S1 6240 Level Retracement level S2 6000 Projection Level R2R2 6750 6412 S2 6069 S3 5791 Level 6452 Retracement R1R3 6550 S4 5334 6518 Projection Level R2R4 6750 6346 6240 S1 R1 INTRADAY PIVOT LEVELS: S2 6069 R2 6412 S3 6346 R3 6240 S1 5791 R1 6452 R4 S4 5334 6412 S2 6069 R2 6518 S3 5791 R3 6452 R4 6518 S4 5334 *R-resistance; *S-support *R-resistance; *S-support Any opinions, news, research, analysis, prices, or other information contained in these reports or any other material provided by Tradepedia LLC. is provided as general market commentary and does not constitute investment advice or a solicitation to buy or sell. This info does not take into account your personal circumstances so please do not trade or invest based solely on this information. www.wealth-monitor.com | April 2016 "The long term corrective wave has reached initial Source: Tradepedia: Data as on March 29, 2016 DFM DX DFM TESTINGDFM LONG TERM RESISTANCE