If it breaks resistance at 14800, then it is possible it may go a bit higher towards 15000. However, if it doesn’t then we are looking at a downward move to 14000 and if it crashes through that support then it goes down to next support 13600.
Looking at the weekly chart, the main trend is down, but when it hits a support for instance like 13600 a few weeks back it roared higher…where it is going to go remains to be seen in the next coming weeks.
My estimation (don’t hold me to it) , is that it is going lower, but you never know. I think the market has topped out and by the end of the 2015 the TSX will be much lower than what it is now.
by Das Brain
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Tags: 14800, Analysis, Can The Index Surge Above, TSX, Weekly Chart
