FINANCIAL ICEBERG
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 TECHNICALS
SP TSX60 Index (XIU ETF): Still at the Resistance Zone?
 July 28 2016 ​( From Stockcharts  )
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The Situation

​
​The SP TSX60 Composite Index (XIU ETF) failed to break on June 8 2016
​the daily ​resistance ​trendline that started back since March 11 2016.
(See First Chart Below - Top Panel - Red Trendline - Elipse)
​Very weak​ trading volume environment when we tested that daily level.
​(See First Chart Below - Top Panel - ​Blue Area)

It did create a new technical point for a new Resistance Trendline​ that 
​started back since August 27 2015. (See First Chart Below - Blue Trendline)
​
Same technical pattern since July 22 2016 as we keep trying to break that resistance trendline with a weakening trading Volume.​​We broke a tiny uptrend channel on the XIU ETF on July 18 2016 and trade sideways since ​(See First Chart Below - Top Panel - Uptrend Channel) but most importantly we are still way above the 200 DMA (Day Moving Average) (See First Chart Below - Top Panel - Green Line)
​​
​​We observed also that the Price Volume Trend of the SP TSX60 Composite ​Index ​(XIU ETF) failed to break the Resistance ​Trendline. ​(See First Chart Below - Bottom Panel - Thick Blue Trendline - Ellipse)


​​But the most interesting technical factor is that we are testing for a third time the Monthly Resistance of a previous Major Breakdown Trendline (that started back since March 2009) for the ​SP TSX60 Composite ​Index (XIU ETF) but failed to break it yet. It could become a significant change for the Canadian Stock Market indeed if broken at the end of this month. ​​​(See Second Chart Below - Thick Red Trendline- Ellipse)​. 



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SP TSX60 Index (XIU ETF): Still at the Resistance Zone? $TSX  #Trading #Canada  #investing  #tsx60


 SP TSX 60 Index - XIU ETF ( Daily Candles - Top Panel )​​
​​20 DMA ( Yellow Line )

​​50 DMA ( Blue Line )

200 DMA ( Red Line )
​
​SP TSX 60 Index - XIU ETF PVT  ( Bottom Panel )​​








Financialiceberg.com


Financialiceberg.com


SP TSX60 Composite Index - XIU ETF
Monthly Candles​