INK Canadian Insider Index edges higher as silver and platinum soar

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK CIN rose 3.7 points to finish at 989.8 and has moved up 3.3% over the past 3 weeks.

MACD fell 1.39 points to 0.31. RSI flattened out a bit, dipping 0.04 points to 62.66.

Support is at 942.82 (50-day moving average) and 971.45 (20-day MA). Resistance remains at 1000 and 1010.

As far as performance goes, the INK Canadian Insider Index beat copper (-0.41%) and the SPDR S&P 500 ETF (SPY*US) (-0.26%) but trailed crude oil (+0.54%), gold (+4.83%), as well as soaring silver (+15.61%) which I predicted would continue its monster melt-up. In addition, platinum, which I predicted would rally in last week's blog, raged 15.52% higher.

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