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 turned on the jets in impressive fashion and cut through the 1200 resistance level like butter. The Index finished the week up 19.71 points or 1.65% to close at 1212.32.
MACD rose 3.54 points to 2.79. RSI rocketed up 12 points or 22% to 65.25.
Support moves up to 1195 and 1200. Resistance rises to 1215 (upper Bollinger band) and 1220.
As performance goes, the INK CIN had a strong week, just edging out the SPDR S&P 500 ETF (SPY*US) (1.60%) and the prices of gold (1.83%) and silver (0.24%). The INK Canadian Insider Index trailed rebounding crude oil (3.44%) and copper (1.82%).
It will be interesting to see how the INK CIN fares this week with coronavirus fears still circulating but with the backdrop of oil and copper showing signs of recovery from heavily oversold conditions.
The INK Canadian Insider Index is used by the Horizons Cdn Insider Index ETF (HII).
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