Markets

TECHNICAL ANALYSIS: TSX Higher; All Sectors Climbing, But Momentum Surges Most on Metals and Mining

The TSX is higher in afternoon trading. All sectors were higher led by Metals and Mining. In fact the S&P/TSX Metals and Mining Capped index is up 3.4% and has seen accelerating momentum as the MACD on this index generates a buy signal. This occurs when the spread (the 12-day moving average minus the 26-day moving average) crosses above the 9-day moving average of the spread.

The TSX rebounded after testing support near the 20-day moving average around 14,533. Resistance on the broader index is seen near the recent highs at 14,765.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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