Canada’s TSX 60 index broke medium-term support — at 680 on the weekly chart below. Respect of the descending trendline suggests another decline. Failure of primary support at 650 would confirm. 63-Day Twiggs Momentum deep below zero also indicates a strong primary down-trend. A conservative target for the decline would be 580*.
* Target calculation: 650 − ( 720 − 650 ) = 580
Filed under: Stock Markets, US & Canada Tagged: descending trendline, primary down-trend, primary support, TSX 60 Index, Twiggs Momentum
