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Canadian Long Bond ETF XLB: My Rising Wedge?
June 02 2016 ( TradingView )
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The Situation
The Canadian Long Term Bond Index ETF - XLB (iShares Core Canadian Long Term Bond Index ETF) is trading within a
huge Rising Wedge technical pattern that started back since August 20 2015. (See First Chart Below- Thick Grey and Red Trendlines).But since November 9 2015, we keep making higher highs and higher
lows, anyway a very good technical sign indeed as shown by the first chart below. But the most interesting factor is that we are testing again the Major Resistance Trendline from that Rising Wedge technical pattern and so critical for Bulls to break at the third tentative. (See chart below - Red Trend Line - Ellipse) All that within a very low trading volume. (See chart below - Bottom Blue Area Chart) Interesting to observe that we are already above the 20, 50 and 200 DMAs (Day Moving Averages) on that Canadian Bond ETF. (See chart below - 20 DMA Yellow Line, 50 DMA Red Line and 200 DMA Green Line)
Canadian Long Bond ETF XLB: My Rising Wedge? $BONDS #Trading #Canada #investing #bonds #xbb
Daily Chart
XLB ETF ( iShares Core Canadian Long Term Bond Index ETF )
20 DMA ( Yellow Line )
50 DMA ( Blue Line )
200 DMA ( Red Line )
Financialiceberg.com
