Technical forecast for SXF

S&P/TSX 60 bounced from support at the 100 day moving average at 711.80 to beat resistance at 719/720. If we can hold above here now look for a retest of yesterday’s high at 722 before resistance at 724/725. Short term outlook is more positive as we recover from an oversold position & so a break higher could then target 728/729.

Support at the 200 & 100 day moving average at 713-711.60 then Fibonacci support at 710.30 & we should see a buying opportunity within this area.