Emerging markets ETF breaking out of bearish channel $EEM $JSE
Updated
The iShares MSCI Emerging markets ETF has been in a bearish channel for the most part of 2018. Finally seeing a break out of both the channel as well as horizontal resistance above $41.63. The end of 2018 can get rather interesting for Emerging markets. Looking for a first target +- $44 which will coincide with the 200dma and prior horizontal resistance. Tough year for emerging markets.. but it might end off a little better
Note
Failed break.. not looking good at all. Needs to reclaim the 41.60 level else it's overs
"If you do what you love, you'll never work a day in your life" - Marc Anthony
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.