Tuesday, 11 September 2012

Emerging Market ETF - Quick Technical Chart Summary

Time for a quick review of the Emerging Market ETF (EEM).

As seem below, since the June lows, EEM has been recovering along a pretty consistent trading range but on an upward trajectory.

Based on the ranges, there's a strong resistance along the $41.8 price point as well as support at the $39 price point (where it bounced off recently).  There is also a slight resistance at the current $40.8 price range but there isn't much to it beyond the mid August plateau.

So not too much new here on the chart really but interesting nonetheless to see where emerging markets are trading as its mostly in the middle of the current range.  In any case, the Fed and other central bank interventions will likely play more of a role than anything else in the short term so make what you will of the charts...

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