What is the downside risk for the TSX Index?

TSX candlestick chart with support levels
TSX Index candlestick chart with major support levels

TSX Index Three-Year Weekly Chart

The intermediate trend and the near-term trend are both down in the above candlestick chart.

Reference the most recent weekly chart of the TSX Index for September 23, 2011. The TSX Index did not hold the 12,000 support level. The 12,000 level is now resistance on the current chart. The reversal of roles from support to resistance or resistance to support is an important concept in technical analysis.

You can visit the Home Page for current charts.

You can visit BigCharts advanced chart settings to customize your own charts.

______________________________

Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The chart snippets are from BigCharts.com which I recommend and have used for fifteen years. The author of this article may hold long or short positions in the featured stock or index.

2 thoughts on “What is the downside risk for the TSX Index?

  1. Pingback: Carrick’s Reader: Portfolio building 101

  2. Pingback: Carrick’s Reader: Portfolio building 101 | Secured Loan Calculator

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.