The Toronto index had reached the minimum target set the 7th December last at 13.717 points .
The TSX is located currently within a corridor of fluctuation bullish. The momentum of the TSX will remain bullish as long as the index will remain within this channel range. It's been twice as the Toronto index bounced exactly on the support area of the moving average of 50 days, and Tuesday 16 November 2010, while currently this moving average is representative of two hollow frequent, breakage of This support area potentially represent a reversal of the trend short term. Observe also the 23.6% retracement zone located at 13.102 points, there can be a significant correction the benchmark index at the top of this zone tipping point.
The second graph is during week you can see that the price curve crossed the resistance area represented by the red center line, this area was in resistance mode for almost a year and a half. A reversal of polarity resistance / support has taken place, but this reversal is still very young and could easily be reversed again, so be careful!
To view the previous analysis of the Toronto index, click HERE and the previous analysis that uses forks Allan Andrews HERE
Claude Bordeleau
The TSX is located currently within a corridor of fluctuation bullish. The momentum of the TSX will remain bullish as long as the index will remain within this channel range. It's been twice as the Toronto index bounced exactly on the support area of the moving average of 50 days, and Tuesday 16 November 2010, while currently this moving average is representative of two hollow frequent, breakage of This support area potentially represent a reversal of the trend short term. Observe also the 23.6% retracement zone located at 13.102 points, there can be a significant correction the benchmark index at the top of this zone tipping point.
The second graph is during week you can see that the price curve crossed the resistance area represented by the red center line, this area was in resistance mode for almost a year and a half. A reversal of polarity resistance / support has taken place, but this reversal is still very young and could easily be reversed again, so be careful!
To view the previous analysis of the Toronto index, click HERE and the previous analysis that uses forks Allan Andrews HERE
Claude Bordeleau
The observer technical analysis of stock markets
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