Technical forecast for SXF

S&P/TSX 60 held a narrow range as we start to look overbought on the daily chart. Risks could be increasing for a sell off on profit taking this week. Support at 724.50 held the downside perfectly yesterday but if we continue lower today we should test 722.20/10 before a buying opportunity at 720/719 at this stage.

Resistance at 728/729 also held the topside perfectly yesterday but above here, 733/734 remains a selling opportunity.