FINANCIAL ICEBERG
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 TECHNICALS
TSX Financials:  Resistance zone ?
 October 28 ( From Stockcharts, TradingView  )
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The Situation

The Canadian TSX Financials ETF - XFN
​( iShares S&P/TSX Capped Financials Index ETF ) started to outperform ​​
​tremendously since ​​February 3 2015​ ​​the Mighty TSX60 Index ETF - XIU
​( iShares ​S&P/TSX 60 Index ETF  ) and the 50 DMA (Day Moving ​Average)
​​​turned ​upward only on March 31. ​​( See First Chart Below ).

​​​​​​The 50 DMA ​​(Day Moving ​Average - ​red line ) on that ETF s RATIO
crossed above the 200 DMA ( Green Line ) on July 30, bringing what is
​c​alled a golden cross technical pattern.​, a good technical omen... ​
​( See first chart below )

​​​​​​One interesting technical factor is that we are testing a Major Resistance Zone on that ETF s Ratio ​​as shown by ​the ​​second ​​chart ​below. ( See First chart below - Red Trendline Ellipses ).

The XFN ETF is now above the 200 DMA (Day Moving ​Average) at 30.52. ​( See Second chart below - Green Line )

But the most interesting factor is that ​we are now back at the Major Resistance Trendline that started back on November 28 2014 at 30.92: ​breaking that resistance will bring a lot more outperformance from the Financials vs the Mighty TSX60 Index ETF - XIU. ​( See Second chart below - Red Trend Line - Ellipse)

​​We will need trading Volume to pick up on the break out to confirm though...
​( See Second chart below - Bottom Blue Area Chart - Ellipse)




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 TSX Financials: Resistance zone ?   $TSX  #Trading #Canada  #investing  #cew #xiu
RATIO
​XFN ETF ( iSharesS&P/TSX Capped Financials Index ETF   ) 
over​
XIU ETF ( iShares S&P/TSX 60 Index ETF )​
​20 DMA ( Yellow Line )
​​​50 DMA ( Red Line )
200 DMA (  Green Line )
Financialiceberg.com
Financialiceberg.com
XFN ETF Daily Candles
​( iSharesS&P/TSX Capped Financials Index ETF )
​20 DMA ( Yellow Line )
​​​50 DMA ( Red Line )
200 DMA ( Green Line )