Royal Bank of Canada has confirmed a Diamond Top pattern on the weekly, along with a breaking of the Moving Average. Upon breaking down, I think it will start a move down all the way to the 88.6% Retrace, likely near $46. Since the Diamond is a Neutral pattern and we have not gotten an official breakdown yet, I will still be on the lookout for a breakout in the...
Hey traders,
Similarly to the US and EU, the Canadian economy is now expressing signals of running into a brick wall.
Canada's yield curve sits on the cusp of inverting for the first time in a decade... banks will increasingly become reluctant to lend as Canada's term structure turns negative. This will impact credit creation, and thus slow down economic growth....
