The outlook for Wednesday was for the TSX to continue the bounce higher. Indeed the bounce gathered more momentum and pushed up 133.99 points.
The Bank of Canada left interest rates unchanged in a move that was expected.
Many analysts are now calling the oil sell-off “overdone” and are predicting oil will recover to between $70 and $80 a barrel. This view helped to push Canadian stocks higher, especially energy stocks although most sectors followed the market trend up. Personally I think oil will fall below $65.00 a barrel shortly.
The rest of this TSX market direction outlook article is for Canada Members.
TSX Market Direction Outlook for Dec 4 2014
FullyInformed Canada Members can login directly through this link to read the market direction outlook for the Toronto Stock Exchange for Dec 4 2014 or members can sign in to the full Canada members site here. Investors can join FullyInformed’s Canada section or read about the benefits of being a member through this link.