What the chart is telling us with this and Fibonacci study, emerging markets have capitulated in the near term. OBV is near the 2011 US market/Emerging market bottom. Chaiken as well as the , both indicators, are suggesting capitulation as well. If I were to use CMF and EFI , I would wait to see both cross the 0 before getting .
Another new indicator is the weighted-adjusted moving average . The is a that uses the as the weighting factor, so that higher days have more weight. It is a non-cumulative moving average, in that only data within the time period is used in the calculation. When the is distant from the actual price, it suggest capitulation. On weekly the is at 42.07 while price barely stands on a recent fib line at 38.61.
Looking at price action we can see we have made higher highs and lower lows since the 2011 drop. With the larger fib line (shown on the thumbnail image, not here} we might want to look at is the .382 retrace at 37.90 for support and 37.21 for further support/possible weekly in the near term.