TSX Composite Index Chart – Challenging 13500 – Intraday Chart Analysis – Afternoon for Mar 16 2016

Mar 16, 2016 | TSX Composite Index Chart - Intraday

The TSX Composite Index in the morning rose back to resistance at 13,500 in a very choppy session with low volume. The TSX Composite Index reached 13,500 by 11:00 AM only to be met with sellers. Despite a rise in oil prices, investors sold this intraday rally and ended up giving back all the morning gains and essentially setting the market up flat ahead of the Fed minutes. Again volume was light.

TSX Composite Index Chart to 1:49 PM

You can see the morning and early afternoon in the chart below. Ahead of the Federal Reserve’s interest rate decision Canadian investors decided to step aside after the failed morning rally attempt. You can see clearly in the chart that the morning was positive until the failed rally. Once sellers appeared, momentum turned completely negative and the market fell back.

TSX March 16 2016

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TSX Composite Index Chart – Afternoon Analysis for Mar 16 2016

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