WisdomTree Emerging Markets High Dividend FundArca
Description
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Note 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 tradingview.com/x/2HlWoxYa/. 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.
Comments
vlad.adrian
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05.12.2014 closed out at the price on chart
adammska
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Russian companies are dragging DEM down. I would wait until RSX bottoms out.