Canada: TSX60 rising wedge

The TSX 60 is in a rising broadening wedge consolidation rather than a trend channel. Downward breakout would threaten primary support at 640 and another decline, while penetration of the descending trendline would suggest that a bottom is forming. Rising 63-day Twiggs Money Flow also indicates that a bottom is forming — especially if we see recovery above zero.

TSX 60 Index