Saturday, March 21, 2009

$TSX-TC Update for 03.21.2009


Monthly chart shows short term support holding, as aggressive bulls stepped back into the market. Index remains well below all key moving averages. No buy signal/pattern evident on this timeframe.

Weekly chart shows profit-taking into the close of last week's trading session. The bulls managed to close the index above the 8ema.

Daily chart shows the profit-taking the last two trading days of the week. IF we can manage to put in a higher low, THEN look for bulls to gain traction for much higher. Price action looks to be tracing out a consolidation pattern, so if the bulls are unable to hold the current low, THEN look for it to break lower.

No comments: