INK Canadian Insider Index gains 3.3%, rockets alongside gold and silver

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 made a strong charge before finally pushing up and through the milestone 1,000 level. It rose 32.75 points, or 3.3%, and closed at 1018.85, flourishing 6.6% in the last month alone.

MACD jumped 1.51 points to 1.82 points. RSI accelerated 7.72 points, or 12%, to 70.38.

Support is at 990.54 (lower Bollinger band) and 1005. Resistance remains at 1022 (200-day moving average) and 1029.56 (upper Bollinger band).

As far as performance goes, the INK Canadian Insider Index beat copper (-0.85%), the SPDR S&P 500 ETF (SPY*US) (1.76%), and crude oil (-2.47%) but trailed gold (+4.66%) as well as silver (+5.98%).

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