Critical support levels for the TSX Index
The support level of 11,000 to 10,900 is based on a Fibonacci Retracement of 50% of the move from the March, 2009 low of 7500 to the April, 2011 high of 14,300. And it is also near the July, 2010 low of 11,065. This is a major support level!
The final support level of 10,000 is based on a Fibonacci Retracement of 61.8% of the move from the March, 2009 low of 7500 to the April, 2011 high of 14,300.
Please reference the previous chart analysis for the TSX Index.
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.
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