A daily chart update of the TSX-V index
TSX-V is an important index, not only to the junior mineral exploration stocks that we track and/or I hold, but also in its indications for the wider commodity and resources and precious metals stock realms.
So it was notable that the ‘V’ broke its trend channel last week and of course got clubbed yesterday, to perhaps test the breakout. Thus far it holds, as just another index subject to the noise of war headlines.
We have to favor the bull view by definition, because that is the trend with both the 50 and 200 day moving averages rising, not to mention RSI and MACD both in positive territory. This recovery from yesterday’s slam should hold to avoid a failure.
As a side note, I want to make you aware of a new feature I’ve added to these charts. The little yellow (+) show points where a shorter-term moving average (10 day, green) I’ve set crosses above or below a longer one (30 day, purple). A cross in one direction or the other is not always going to provide a sustainable trend on its favored direction. But it is always going occur before or early in a new sustainable trend. On this rally off the rising SMA 200 (orange), green has crossed above purple. No great shakes, but a minor positive at this point.
