S&P/TSX 60 Has 100 Week Moving Average Resistance At 826/827
Jason Sen | Jul 06, 2016 03:15AM ET
S&P/TSX 60 has 100 week moving average resistance at 826/827 this week so this is the main challenge for bulls. We are overbought short term so there are profit taking risks today and failure to beat 827 targets 821 then good support at 819/818 which is the best chance of a low for the day once again. However longs need stops below 816. A break lower targets minor support at 812. If we continue lower look for better support at 807/806.
Bulls need a SUSTAINED break (and close for confirmation) above 828 to target 831/832, perhaps as far as 837/838.
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