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
Money is flowing into the Emerging Markets ETF again.
A look at the chart shows the break of the multiple top at 48. Given the strong rise the last month a healthy pull back to 49 (or 48 as a support) would come in handy for increasing positions.
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)
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.