Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK Canadian Insider Index continued its winning ways, adding 8 points or 1% to close at 851.33. The Index is now up almost 40% from its March lows.
MACD pulled back 11.26 points to close at 21.42. RSI rose 1.41 points to 52.12.
Support moves up to 778 (20-day moving average) and 800. Resistance is at 850 and 870-872.
As far as performance goes, the INK Canadian Insider Index beat gold (-3.08%) and silver (-4.72%) but trailed rebounding copper (3.76%) and crude oil (9.97%).
I continue to watch copper closely for the base metal continues to make steady progress and higher lows since the end of March. As per my proprietary Alpha signals, I look for copper to continue to underpin and guide both markets and commodities higher in the weeks ahead.
The INK Canadian Insider Index is used by the Horizons Cdn Insider Index ETF (HII).
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