Canada’s TSX 60 index is headed for a test of resistance at 720/730 on the weekly chart. Expect a retracement. Respect of the trendline would warn of another test of primary support. Breakout above the descending trendline would signal that the primary down-trend has weakened and a bottom is forming. A 13-week Twiggs Money Flow trough that respects the zero line would indicate strong buying pressure.
* Target calculation: 720 + ( 720 – 640 ) = 800
* Target calculation: 720 + ( 720 – 640 ) = 800