TSX Index analysis using the weekly candlestick chart

Intermediate trend is sideways for the TSX Index
TSX index chart analysis using the weekly chart.  The intermediate trend is sideways with a near-term uptrend.  The RSI continues to trade below 50.

TSX Index Three Year Chart

Reference the last chart analysis of the TSX Index: not much has changed.

Key points to ponder from the above chart are:

  • TSX Index has a negative technical profile
  • Trading below the 200 day moving average
  • Major trend is down
  • Intermediate trend is sideways
  • Near-term trend is up
  • Continues to hold support of 11,500
  • Closed above the 100 day moving average
  • RSI is below 50

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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.

© 2011 TradeOnline.ca

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