EEM: Trading At Lows
Petros Steriotis | Oct 05, 2014 01:23AM ET
The Emerging Markets ETF (iShares MSCI Emerging Markets (ARCA:EEM)) broke down below its 200-day MA last week, trading around 5-month lows. In case EEM rebounds it could find resistance in the 42,50/43 area. Only a weekly close at 43 or higher will give hopes for a year-end rally. EEM has seen lots of volatility in the last two years, with a W-shaped move, but it is practically trading within a huge price range between 35 and 45 despite all that.
EEM ETF, daily chart:
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