Emerging markets etf EEM has made a new high of 2011 and has broken out of band of 48 and 44 levels.
The breakout has come with bullish gaps and above average volumes which is a bullish sign. The range gives a target price of 52 levels.
Worth noting is the recent uptick in the relative performance with SPX index.
Chart:
Earlier post on EEM
Charting the Emerging Markets path
The breakout has come with bullish gaps and above average volumes which is a bullish sign. The range gives a target price of 52 levels.
Worth noting is the recent uptick in the relative performance with SPX index.
Chart:
Earlier post on EEM
Charting the Emerging Markets path
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