SAUDI ARABIA WEATHER = LARGE & NARROW RANGE -$TASI- 3OMN - IDEA
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The all Saudi Arabian shares index TADAWUL have seen first an acceleration of the fall to finally recover a little bit lately.
Now in a narrow range, we can see that it is framed by a wider range still legit.
Zone 1 and zone 3 are the next possible moves. Lines will be broken probably by a large candlestick or a large gape.
In fact, we have seen the market jumping from one range to another just by using "impulsive gapes".
This market doesn't offer much data, the study of the candlesticks reveals that actual support has been tested several times but not been broken.
If the market goes beyond, this will possibly be a smart entry point for long fall.
In the other side, the actual resistance (narrow range) seems to be less strong and possibility of seeing it broken are also likely as it is a very weak point. This will go in the sense of a consolidation of the price.
_______________________________________________________________
The all Saudi Arabian shares index TADAWUL have seen first an acceleration of the fall to finally recover a little bit lately.
Now in a narrow range, we can see that it is framed by a wider range still legit.
Zone 1 and zone 3 are the next possible moves. Lines will be broken probably by a large candlestick or a large gape.
In fact, we have seen the market jumping from one range to another just by using "impulsive gapes".
This market doesn't offer much data, the study of the candlesticks reveals that actual support has been tested several times but not been broken.
If the market goes beyond, this will possibly be a smart entry point for long fall.
In the other side, the actual resistance (narrow range) seems to be less strong and possibility of seeing it broken are also likely as it is a very weak point. This will go in the sense of a consolidation of the price.
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