TSX Set for Higher Opening as Basic Materials and Energy Sectors Lead the Way

The TSX Composite Index is expected to open on a positive note, supported by strength in basic materials and energy sectors during the previous trading session. The index continues to trade comfortably above its 21-day Simple Moving Average (SMA), acting as key dynamic support and reinforcing the prevailing medium-term uptrend.

From a technical perspective, immediate support is positioned near 36,200, while the next key resistance is located around 36,700. A decisive breakout above this resistance zone would further strengthen the bullish outlook and potentially open the path for additional upside.

The TSX continues to benefit from its heavy exposure to energy, materials, and financials, making commodity trends and interest-rate expectations particularly important. Investors are watching Bank of Canada policy expectations, U.S. inflation signals, quarterly corporate earnings, gold, crude oil, and copper prices, as well as movements in the Canadian dollar.