Rising wedges are supposed to be bearish, but EEM have pretty bullish look on this chart. The breakout today could be bull trap, but if we stay above the current level (ATH from April'19), the breakout would be confirmed. Looking at the chart there isn't much headroom to grow — the last 52W high is this year January's 46 level.
I'm long option call here and won't hold it beyond 46 (if we hit it).
Putting the macro hat on — the USD is falling and likely will be falling further. Precious metals are bullish. We might see a breakout above the 46-50 level, but I won't bet much on it.
I'm long option call here and won't hold it beyond 46 (if we hit it).
Putting the macro hat on — the USD is falling and likely will be falling further. Precious metals are bullish. We might see a breakout above the 46-50 level, but I won't bet much on it.