As S&P/ TSX Composite Index maintained its 11250 support level in early days so an up move was due.
Though it goes past 11600 but it failed to stay there. It is good to see that still it is maintaining 11500 level. In medium term perspective it is due to drop more but in coming days if S&P/ TSX Composite Index maintains 11200 level in early days then there is a chance that it may create a bullish pattern, which can take S&P/ TSX Composite Index at around 12200 level. I think we can get a clear picture in coming week.
On the other hand if it is trying to make reverse symmetrical triangle then there is chance that it may cross 11200 level. Here I must say that in coming future S&P/ TSX Composite Index has the option of creating other bearish patterns too and in this respect 11200 level is also an important level for it.
NOTE: Please see the disclaimer of this blog.