iShares Canadian REIT ETF Analysis for 01.27.2008

iSHARES CANADIAN REIT ETF - XRE-TC

Monthly chart shows sharp retracement of the last move up off the 2003 lows. No buy signal/pattern evident on this timeframe.

Weekly chart shows last week's trading activity resulted in a bullish engulfing candle pattern. Look to next week's trading activity to determine next direction. IF price remains in a consolidation/trading range, THEN look for lower. IF price picks up momentum sharply, THEN look for buy pattern/signal to enter long.