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Canadian Short Term Bond (XSB ETF): Breakdown?
April 25 2016 ( TradingView )
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The Canadian Short Term Bond Index ETF - XSB (iShares Canadian Short Term Bond Index ETF) was trading within a
huge downward trend pattern (making lower highs and lower lows) that
started back since February 2 2015. (See First Chart Below- Thick Grey Trendline).But since November 11 2015, we were trading within a Falling Wedge
Technical Pattern as shown by the first chart below. (See First Chart Below- Thick Red Trendlines).On April 22 2016, we finally broke the support trendline of that Falling Wedge, (See chart below - Bottom Red Trendline - Ellipse) all that with no real spike in trading volume. (See chart below - Bottom Blue Area Chart) Interesting to observe that most of the previous correction in price for the XSB ETF came after a wave of Canadian Dollar strength versus the US Dollar. (See Second Chart Below- Vertical Amber Lines).
Canadian Short Term Bond (XSB ETF): Breakdown? $BONDS #Trading #Canada #investing #bonds #xsb
XSB ETF ( iShares Canadian Short Term Bond Index ETF )
20 DMA ( Yellow Line )
50 DMA ( Blue Line )
200 DMA ( Red Line )
XSB ETF ( iShares Canadian Short Term Bond Index ETF - Candles - Top Panel )
Canada US Dollar Exchange Rate ( CADUSD - Bar Chart - Bottom Panel )