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MarcoOlevano
Dec 3, 2023 4:48 PM

#EEM Emerging markets poised for a breakup ? Long

iShares MSCI Emerging Index FundArca

Description

While not a perfect construction this does look like an inverse Head and Shoulders. A break above the neckline resistance at 39.85 should see this poised to move to 42.00 and then the target of 43.30 which is almost 9% higher. Note price has been consolidating above the 200dma now for 13 days which is quite significant and i think the probability favour an upside breakout.
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