Bullish white candlestick for the TSX Index

 TSX Index  No Responses »
Apr 092013
 
Reference the resistance levels for the TSX Index
TSX Index chart analysis showing a bullish white candlestick with resistance at 12,500.

TSX Index Daily Candlestick Chart

Reference the last chart analysis for the TSX Index showing the support zone. It held the support zone right around the 200 day simple moving average. Today, there was movement into the energy and materials stocks which is represented by the tall white candlestick. One day does not make an uptrend and there will be heavy resistance at 12,500.

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Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2013 TradeOnline.ca

Intermediate uptrend continues for S&P 500 Index

 U.S. Indexes  No Responses »
Jan 212013
 
New support level of 1,470 for S&P 500
Chart analysis for the S&P 500 Index showing the intermediate uptrend and the new support level of 1,470. RSI and volume are the confirming the uptrend.

S&P 500 6-Month Daily Candlestick Chart

The trend, rsi and volume indicate the index has a chance at the all-time high of 1,565.15 reached on October 9, 2007. But the first test will be 1,500 which is a significant round number. On the reverse side, a break below support of 1,470 would be a strong indicator to liquidate long positions.

Reference the last chart analysis for S&P 500 posted January 4, 2013

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Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. 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.

© 2013 TradeOnline.ca

TSX Composite Index chart analysis

 TSX Index  No Responses »
Jan 182013
 
TSX Index intermediate uptrend and resistance levels
Chart analysis for the TSX Composite Index showing the intermediate uptrend with resistance levels. RSI and volume are confirming the uptrend.

TSX Composite Index Weekly Chart

The 12,800 level near the February, 2012 intraday high of 12,788 has been a significant support and resistance level back to June, 2011 when it acted as support. Then it was a resistance level in September, 2011. The reversals of roles in an important concept in technical analysis. I  want to see a confirmed close around 12,900 that holds for two days before the 12,800 price zone is declared a new support level.

The TSX Composite Index has the momentum to breakout above near-term resistance of 12,788 which was the February, 2012 intraday high. But; the materials and oil sectors, which have a 45% weighting in the index, are not participating in the advance. These two sector will have to move upward to sustain the intermediate uptrend in the TSX Index to the 13,500 resistance level. And for these two sectors to move, the underlying commodities have to move upward. But, there is no intermediate uptrend for gold, silver, copper, or oil. And, then there is the frustrating Canadian crude differential partly due to pipeline constraints. And, then there is the low North American price for natural gas.

Reference the last chart analysis for the TSX Index posted on January 10, 2013.

Relevant articles picked from the Web:

______________________________

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. 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.

© 2013 TradeOnline.ca

Canadian Natural (CNQ:TSX) chart analysis

 Charted Stocks  No Responses »
Nov 272012
 
Intermediate trend is down for Canadian Natural Resources
CNQ chart analysis showing the downward sloping intermediate trendline.

CNQ YTD Daily Bar Chart

When you see a chart like this for a major Canadian oil company, you can understand the dismal performance of the TSX Index.

Reference the last chart analysis for CNQ published on July 17, 2012.

Reference the corporate website for CNQ.

Relevant articles picked from the Web:

______________________________

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.

© 2012 TradeOnline.ca

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