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SP TSX60 Index (XIU ETF): Major Monthly Technical Zone?
May 25 2016 ( From Stockcharts )
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The SP TSX60 Composite Index (XIU ETF) still in a strong skirmish with
the minor resistance trendline on a daily chart, still failing to break it
in a falling trading volume environment. (See First Chart Below - Top Panel -
Thisck Red Trendline) It could be seen also as a rising wedge since April 20.
(See First Chart Below - Top Panel - Ellipse)
We observed also that the Price Volume Trend the SP TSX60 Composite
Index (XIU ETF) failed to break the Resistance Trendline.
( See First Chart Below - Bottom Panel - Thick Red Trendline - Ellipse )
But the most interesting technical factor is that we are near testing the Monthly Resistance of a previous Major Breakdown Trendline (that started back since March 2009) for the SP TSX60 Composite Index. It could become a significant change for the Canadian Stock Market indeed. (See Second Chart Below - Thick Red Trendline- Ellipse).
SP TSX60 Index (XIU ETF): Major Monthly Technical 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 )
SP TSX60 Composite Index - XIU ETF