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 price drop from high of mid-July to low formed in mid-October.
