TASI Index Technical Analysis (Weekly Time Frame)Tadawul All Shares IndexTADAWUL_DLY:TASITHE-CHART-ALCHEMISTTASI Index Technical Analysis (Weekly Time Frame) By The Chart Alchemist 1. Prior Technical Review Recap In our previous short-term and long-term analysis of the Tadawul All Share Index (TASI), we identified a downward target that was successfully met. The index found support at a significant level around 10,300 points, establishing a key floor. 2. Retest of Key Breakout Level Additionally, we observed a retest of a prior breakout on a higher timeframe, around 9,890 points. This level will remain important in shaping the index’s behavior over the next several years. 3. Broader Context and Pullback Analysis In a broader perspective, the recent price action represents a corrective pullback from the breakout in April 2021. The index previously peaked at 13,880 points in May 2022 before initiating this pullback. Now, it appears that this pullback is nearing its conclusion, and the index is poised for a bullish re-entry. 4. Bullish Targets and Future Outlook With the corrective phase seemingly over, the index is set to move upward toward several bullish targets. Our initial target is 11,520 points, followed by 11,750 points. Subsequent targets lie at 12,370 points and 12,850 points, with the major objective at 13,920 points. If bullish momentum continues, we may see 17,760 points and ultimately 19,390 points. Important Index Levels Support Level: 10,300 points Key Retest Level: 9,890 points Initial Bullish Target: 11,520 points Secondary Target: 11,750 points Further Target: 12,370 points Additional Target: 12,850 points Major Target: 13,920 points Longer-Term Target: 17,760 points Ultimate Target: 19,390 points