Markets

TECHNICAL ANALYSIS: TSX Hits Fresh 6-Year High; Industrials Drive Gains

TSX Composite has pushed to a fresh six-year high, up more than 30 points on the day and moving in view of the May 2008 peak at 15,155. Support on the TSX is seen near the 50-day moving average at 14,544. Sectors are mixed, with Industrials the best performer and Metals and Mining capping gains.

The RSI (relative strength index) which is a momentum oscillator that measures overbought and oversold levels moved higher with price action reflecting accelerating positive momentum, while printing at 67, which is just below the overbought trigger level of 70.

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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