Looking at the chart of the TSX, we are in a downward channel currently. We are coming up to the upper downward trendline after the bounce off the lower channel, which makes me think we could pull back in the next few days and into next week. I would look for take some profits on your long positions in the next day or two if we get another day of gains cause a pullback is just around the corner.
Looking at all the charts of the major US indices, they are all bouncing off the lower support level of the rising channel. Most are in oversold territory as well so we could see some buying coming in at these levels for the next week.
Looking at all the charts of the major US indices, they are all bouncing off the lower support level of the rising channel. Most are in oversold territory as well so we could see some buying coming in at these levels for the next week.
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