INK Canadian Insider Index continues climb, adds 15 points

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index continued its April rebound and gained 15 points for a finish at 1267.71.

Support moves up to 1241 (200-day moving average) and 1260. Resistance is at 1276 and 1284.

RSI moved up nearly 7 points to 53, while MACD rose 4 points to 3.84. The INK CIN's technicals are looking increasingly positive and have a lot of room to improve on the upside.

The INK CIN continues to rally from its sell-off lows, as my recent analysis has suggested. Since I am now looking for commodities, small caps, and microcaps to be outperformers, I am bullish on the INK Canadian Insider Index over the next few months.