The recovery on smaller time frames m15 and m30 expected in our previous TASI technical analysis failed.

1-Hour Chart

Instead of making a C impulse wave up, TASI has built another extension leg down on m30 within the bearish C wave on the older 3-hour chart.

tadawul-index-1-hour-chart-2016-08-19

2-Day Chart

The B correction wave on a 2-daily chart seems to have an equal level of the 1st bullish impulse. We expect the bullish C wave to start soon. Otherwise, the time frame of this B should be reconsidered on an older time frame.

tadawul-index-2-day-chart 2016-08-19

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