Chart looks very similar to the NASDAQ in terms of how high it has gone off the Feb highs. Considering this bullishness, I have drawn a very shallow wave 2 retracement once the 5th wave has filled out, and also from a fundamental perspective, countries like China are recovering at a much more rapid rate than compared to the US, for example. The wave 2 retracement is anywhere in between the purple target box.
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Thank you very much for this! Interestingly my price target was 64 as well, before seeing a sizable pull back. That said I believe this is a great long term (6-9months) play as EM on track to out perform US markets!
Thank you very much for this! Interestingly my price target was 64 as well, before seeing a sizable pull back. That said I believe this is a great long term (6-9months) play as EM on track to out perform US markets!
Thanks again! Much appreciated!