Canada’s TSX Composite Technical Analysis . Canada’s stocks lower at close of trade on Thursday; S&P/TSX composite down by 48.57 points or 0.32%. As Losses in the Materials, Telecoms and Consumer Discretionary sectors led shares lower.
Data’s Watch Out For Today:
Canadian Inflation the most important release today.
Preliminary reading of University of Michigan consumer sentiment on the agenda.
FED’s Kalpan to speak once again
Oil rigs count by Baker Hughes
Canada’s TSX Composite Technical Analysis:
The best Performer of the session on the S&P/TSX Composite index Pason systems Inc. And the worst performer for the day was Prometic Life Sciences Inc. On Thursday 432 shares advances and 608 shares declines and 158 shares unchanged.
The S&P/TSX index was trading in a perfect channel . The Index has more strength compared to other world indices. On long term charts the index is falling from all time high resistance So caution is advised on delivery positions. Below 15000 one can expect another 500 points fall.