Always consider hidden risks
Canadian Corporate Bonds ETF XCB: Resistance Zone?
June 13 2016 ( TradingView )
If you would like to receive our free daily markets updates, please Sign-Up
The Canadian Corporate Bond ETF - XCB (iShares Canadian Corporate Bond Index ETF)
is trading within a huge falling wedge pattern that started back since February 2015. (See First Chart Below- Thick Red Trendline).Since March 2 2016, we keep making higher lows and higher highs trading pattern,
anyway a good technical sign indeed as shown by the first chart below. But the most interesting factor is that we are now testing the Major Resistance Trendline from that huge falling wedge pattern that is so critical for Bears to hold. ( See chart below - Red Trend Line - Ellipse) All that within a falling trading volume. ( See chart below - Bottom Blue Area Chart - Ellipse) Chasing yield have become a big commitment from investors on the bond side and also on dividend stocks.
Simply stated, we are again into another wave of yield chasing as investors takes more and more risks to achieve less and less financial return. Sound familiar?
Canadian Corporate Bonds ETF XCB: Resistance Zone? $BONDS #Trading #Canada #investing #bonds #xbb
XCB ETF ( iShares Canadian Corporate Bond Index ETF )
20 DMA ( Yellow Line )
50 DMA ( Blue Line )
200 DMA ( Red Line )