Thursday, April 21, 2011

The TSX progression from the lows of March 2009 has been nothing short of amazing. This weekly chart shows that while the upward trend has been tested it is still intact. The circle at the top does indicate a double top formation which should be monitored, double tops tend to be the harbinger of bad news. If the trend line is broken and the break hold for a a few days, concern is warranted. A hold above the 13,800 level, the breaking point in September 2008, will be bullish and signal a rise to the resistance at 14,625 and on to new all time highs.....but watch that double top and trend line.

0 Comments:

Post a Comment

Subscribe to Post Comments [Atom]

<< Home