Ottawa Investment Advisor John Bruce

Technical Analysis Report for week of May 29

June 3, 2009 · Print This Article

Technical Analysis Report for week ending May 29 , 2009


  • Ended the week higher then previous week and closed above 14 day and 21 day moving averages. Price action is stalling and needs to hold the levels achieved or face a possible test of previous lows. Long-term trend still negative, short-term trend flatting.


  • Another strong week and maintained it’s close above 200 day moving average and has consolidated above it. Long term trend has gone from negative to neutral, short- term trend moving higher. Increasing Energies , Financials and P recious M etals are helping to strengthen the upward movement , back to levels not seen since the October declines gained momentum. – Relative Strength Index (RSI) has started to rise from neutral territory but has not entered over bought level (70+) which is used by bearish traders as a sell signal .

*To find out how Technical Analysis can be used in your portfolio, call John Bruce 866-860-4190.

John S. Bruce
Investment Advisor
Mackie Research Capital
Direct Line- 613-425-3732
Toll Free- 866-860-4190

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