Oversold INK Canadian Insider Index pins hope on oil, copper recovery

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

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 rolled over and tumbled 22.67 points or 2.1% to close at 1071.01. The Index has now fallen over 44 points in three weeks.


MACD dropped 0.7 points to -4.45 points. RSI slipped 3.46 points to 33.12. If there was a positive to point out, it is that RSI went sub 30 and recovered to close above that level. The low 30 region has been an area where the INK CIN has bottomed and found support in recent months, as we noted last week.

Support moves down to 1064.69 (lower Bollinger band) and 1050. Resistance is at 1104 (200-day moving average) and 1088.

The Index lagged silver (up 1.13%), gold (up 1%), copper (up 0.23%), as well as the SPDR S&P 500 ETF (SPY*US) which lost 0.95%. Oil (up 0.57%) also outperformed the INK CIN, though, as we've pointed out, a recovery in oil (and copper too) would bode well for the INK Canadian Insider Index. It will be interesting to see if the INK CIN gets another flush of the lower Bollinger band that triggers a reversal or rebound in the oversold Index.

The INK Canadian Insider Index is used by the Horizons Cdn Insider Index ETF (HII).

Comment On!

Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).