EEM at strong resistance levels

Weekly chart of EEM.
– the resistance level at 42.5, also the october highs were broken. – now facing the resistance at 44
– given the strong uptrend of the last month, a pull back to the support (previous resistance) would be healthy


India to catch up ?

A look at the MSCI India ETN (INP), compared to China (FXI), Emerging markets index (EEM) and the S&P500 (SPY).

As said before, we see the emerging countries lagging behind, especially India

A look at the daily chart of INP

  • reversal candle
  • A higher high
  • testing the 20d MA at 65,4
  • the next resistance level is at 67
  • But, the 50d MA is about to break the 200d MA to the downside, which doesn’t make things for the better
  • A short term investment can be considered, but with tight stops (64)

Rare elements

A look at the Rare Elements Resources Ltd ETF.

  • It is a 3 month daily chart, with 10 and 20d moving averages
  • Stock is below the 10d MA and above the 20d MA, tightly squezed in between them
  • We are the clos end of the triangle, so I expect a break out.
  • 15 is a buy trigger

Emerging markets at key support(s)

A look at the emerging markets ETF – EEM :

  • uptrend resistance line has been broken downwards.
  • volume increase is a warning
  • now siting on 50dMa, close the uptrend resistance line. This could be a fake move. A move further down could send it to 44.
  • a huge ascending triangle is forming, with 48,25 as a key resistance level.