EM equities breaking below channel. Will the 21w EMA hold?
Comment:
the 21w EMA held on a closing basis, but EEM has been unable to re-establish itself above the lower bound of the channel. What we are likely looking at is a possible retest of the channel break for a more aggressive move lower below the 21w EMA in the weeks ahead.
Comment:
EEM attempted a retest of the upward channel and failed, opening the downside and new lows ahead.
