Emerging markets - Very bullish signalsNote that this chart is highly correlated with copper and the Russian stock market. It is well correlated with the Chinese market , Brazilian market and AUDUSD.
The weekly chart is very bullish Chart stands at the most important area on the chart, the Force Index has been as oversold as it can get (now sits inside the KC), there is a slight bullish divergence and there are two bullish engulfing candles.
The daily chart speaks for itself. Bullish divergences everywhere, big volume effort with no reward. The impulse is already green.
I would say emerging markets are going to soar during the coming weeks. If these bullish signals fail (same signals in the Australian dollar, Russia, copper, Brazil) fail, all of the markets outlined are going to collapse.
