Intermediate uptrend for the TSX Index
Intermediate trend is up for the Canadian market with major resistance at the 2008 high of 15,154. I use the round number of 15,000 and will set my alerts at this point.
Reference the last chart analysis for the TSX Index showing the support levels. Note that the 14,500 level was a resistance point on this chart. It is now a support level. The reversal of roles is an important concept in technical analysis.
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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.