INK Canadian Insider Index sets new highs at 1285.35, returns 12.4% in 2017

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Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK CIN sailed straight up, continuing the ascent it began on its bounce from a low of 1246.94 two weeks ago. The INK Canadian Insider Index rose 16.48 points or 1.3% to set a new all-time closing high at 1285.35.


 

Momentum improved strongly. RSI increased 8.4 points to 72.42. MACD surged nearly 3.5 points to 1.40 and moved out of negative territory. The blue fast line crossed up and over the slow red line, generating a new MACD buy signal.

Support moves up to 1270 and 1280, while resistance is at 1285 and 1290. I am pleased my forecast of a powerful rally continues to play out and I’m even happier that the INK CIN has shown itself a juggernaut in 2017, generating a return of 12.4 percent. The INK Canadian Insider Index remains bullish and continues to follow the price of copper higher.

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