Tadawul All Share Index (TASI): Bullish Correction
TASI on small time frames is making a bullish correction which is not yet enough to turn into a recovery.
The wave up on an 1-hour chart could be hardly considered a new bullish momentum until it has a support from older time frames. It looks like a 4th correction wave within the lime wave structure.
On the smallest 1-minute chart it was workable to enter this bullish correction after the a and b waves drawn with magenta lines. This chance was given on August 25th, 2016. Now TASI is performing some bearish correction down on M4-M5.