Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Tadawul All Share Index – Wave Analysis

Published 08/11/2016, 03:55 AM
Updated 07/09/2023, 06:32 AM

3-Hour Chart

Tadawul All Share (TASI) on a 3-hour chart shows a bullish correction which has a status of either a correction subwave within the bearish momentum C wave (plotted with an aqua line) or the 4th correction wave. If the bulls dominate on the market, this wave's status may grow into a new momentum A wave on 3-hour chart of a new short-term trend.

15-Minute Chart

If we switch to a smaller 15-minute chart, we will see the situation on daily and intraday levels. M15 shows us a momentum A wave up (drawn with an orange line) that was building during the last 4 days. Today we have a bearish B correction started.

5-Minute Chart

A junior 5-minute time frame allows us to understand that the orange B correction on M15 may have an inner structure of 3 waves at least on a smaller M5 time frame. Now we see formation of a complex bullish B on M5 in progress that might be followed by a C bearish impulse wave.
Tadawul All Share Index (TASI) H3 Chart

Tadawul All Share Index (TASI) M15 Chart

Tadawul All Share Index (TASI) M5 Chart

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.