INK Canadian Insider Index tops 1300 mark

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 Index continued its 4 month climb, closing 8.5 points higher at 1300.91.

New support levels are 1280 and 1286, while resistance is at 1302 and 1300.

Our long-term momentum indicator MACD fell 1.25 to 0.22. On the plus side, the fast and slow lines remain between 6.83 and 7.05. RSI rose 3.4 points or 5.3% to 66.9.

The INK CIN is off to a good start for the year. At present, copper is consolidating around the $3.25 area ahead of its next advance, meanwhile gold, silver, and mining stocks are beginning to break out as the US dollar continues to break down and deteriorate. These are all bullish factors that should propel the INK CIN and its constituents higher in the weeks ahead.