Always consider hidden risks
TSX Financials (XFN ETF): At Technical Crossroads?
August 10 2016 ( TradingView, StockCharts.com )
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The Canadian TSX Financials ETF - XFN (iShares S&P/TSX Capped Financials Index ETF) started a Bullish Trend from the post-Brexit panic on June 27 2016; it did at the same time tested a Major Support Trendline that started back on November 28 2014) (See first chart below - Thick Red Trendline - Ellipse) , all that with a lower trading
Volume which is quite unusual for a Breakout. (See first chart below - Blue Area)And Since June 8 2016, we are within a Downward Daily Channel and testing
the Resistance of that Channel as shown by the first chart below.
The XFN ETF started to under perform tremendously since
the April 4 2016 week the Mighty TSX60 Index ETF - XIU ( iShares S&P/TSX 60 Index ETF ). (See Second Chart Below- Daily Candles Ratio).On June 27 2016, it did break on a relative basis (XFN ETF over XIU ETF) a Daily Major Support Trendline that started back since the February 2 2015, indicating a continued under performance of Financials compare to the broad market index. (See First chart below - Grey Trendline - Ellipse).We are now testing another Support Trendline that Bulls need to protect at all costs.(See Second chart below - Blue Trend Line - Ellipse) The Canadian TSX Financials ETF - XFN is definively at Technical Crossroads.
TSX Financials (XFN ETF): At Technical Crossroads? $TSX #Trading #Canada #investing #cew #xiu
XFN ETF ( iSharesS&P/TSX Capped Financials Index ETF )
XIU ETF ( iShares S&P/TSX 60 Index ETF )
XFN ETF Daily Candles
( iSharesS&P/TSX Capped Financials Index ETF )
Volume ( Bottom Blue Line )