EWH: Downside Pressure Ahead
Mike Macdonald | Nov 30, 2014 01:53AM ET
iShares MSCI Hong Kong (ARCA:EWH): Prices have failed to sustain the push above 22.00, with any further immediate tests expected to prove unsustainable. Fresh downside pressure is now developing, as weekly studies turn lower, with risk of a test of the 21.31 low of 20 November in the coming week. A further break would lead to a deeper reaction towards 21.00, as investor sentiment deteriorates. An unexpected break above 22.00 would provide some stability.
Week-week investors are long and advised to monitor stops at 21.13.
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