The TSX And Technical Analysis
Take a look at the 1yr chart with the 20 and 50 day moving averages with RSI indicated below the chart:
There is a continued strong uptrend from the lows of March. Although there has been a couple of attempts at moving the market downwards, only only one succeeded in breaking through the 50 day moving average line in early July. More recently it tested that point again but bounced off of it which indicates an overall bullish trend. The only problem with the chart is that there might be some resistance around the 11,555 level which has been hit twice already. If we break through this level we should have no problems with a run to 12,000. But overall it’s looking good with both 20 and 50 day MA pointing upwards and RSI is neutral but uptrending.
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