INK Canadian Insider Index rises 1.4% as silver continues surge

Sun, 07/19/2020 - 9:39 pm Nicholas Winton, High on the Hog

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index moved up 14.23 points or 1.4% to close at 986.10, making for a nice 3% gain over the past two weeks.

MACD jumped 0.7 points higher to 1.70. RSI edged 1.64 to 62.70. RSI briefly made a multi-week high at 65.7 and has broken free from a trading range it was locked within since mid-June.

Support is at 928.92 (50-day moving average) and 959.41 (20-day MA). Resistance moves up to 1000 and 1010.

As far as performance goes, the INK Canadian Insider Index beat copper (+0.24%), crude oil (+0.4%), gold (+0.45%), and the SPDR S&P 500 ETF (SPY*US) (+1.30%) but trailed silver (+3.73%) which as I expected began to soar.

We are seeing markets and metals really starting to melt up as I have forecast for many months. In addition to silver continuing a rocket ride of a flight, I'm also watching for a huge rise in platinum.

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

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