TipTVFinance

Global mining index – Bearish RSI divergence, Oil divergence

INDEX:TXGM   TSX Global Mining Index
S&P/TSX Global Mining index was closely following oil             prices until mining index diverged in early June.

Since then, mining index has somehow managed to avoid losses despite drop in oil             prices.

However, we see a bearish price RSI divergence on the daily chart of the mining index . Hence, prices may converge again with oil             .

The index could test rising trend line support seen around $63.00. Bearish invalidation is seen only in case of a day end close above 69.68

Related Ideas

Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out