Always consider hidden risks
Canadian Corporate Bonds ETF XCB: Back at the Resistance Zone?
June 30 2016 ( TradingView )
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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 back 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: Back at the 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 )