Always consider hidden risks
TSX Energy Index ETF XEG  : My Rising Wedge?
May 26 2016 ​( From TradingView  )
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​​​​​The Situation

​​The Canadian TSX  Energy Index ETF - XEG 
​( iShares S&P/TSX Global Base Metals Index ETF ) started to outperform ​​
​tremendously since ​​January 20 2016​ ​​the Mighty TSX60 Index ETF - XIU

​( iShares ​S&P/TSX 60 Index ETF ).​​( See First Chart Below- Daily Ratio ).

​​​​​​It was a strong support sign on a relative basis since it was done
​with a new low in place and a Bullish Hammer Candle Pattern.

​ ( See First Chart Below )​

And now, we are near the resistance trendline from a
rising wedge
and already above the 20, 50 and 200 DMA ( Day Moving Average )
on that ratio.​ ( See First Chart Below - Ellipse )​ 

Almost the same technical pattern price wise for the XEG ETF: the low in price on January 20
​was made with a Bullish Hammer Candle Pattern on a strong volume. A good sign technically speaking.
 ( See Second Chart Below )​

​​​​But the most interesting factor is as we are near breaking the resistance trendline on a ratio basis, we have the same pattern price wise. Near testing a Major Resistance from a rising wedge that started back since Oct 9 2015. Bulls need to break those resistances to have a continuation of outperformance of the Canadian Energy Sector ETF XEG.

TSX Energy Index ETF XEG : My Rising Wedge?  $XEG  #energy #Investing #xeg #canada 
XEG ETF Dailly Candles
​( iShares S&P/TSX Capped Energy Index ETF )
50 DMA ( Red Line )​
Volume ( Bottom Blue Line )​

​XEG ETF ( iShares S&P/TSX Capped Energy Index ETF )
XIU ETF ( iShares S&P/TSX 60 Index ETF )​
50 DMA ( Red Line )​