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EEM Support Break with USD/EM Bounce Clarity
@Smartkarma:EEM has been a favorite short from the summer at the 52 zone and more recently at 46.50. Rising wedge support break stands out that sheds light on China/HK direction. EEM has been a favorite short from the summer at the 52 zone and more recently at 46.50. Rising wedge support break stands out that sheds light on China/HK direction. Buy volumes are lacking on this rise that formed a choppy wedge and an underlying weak signal (bearish). 43/42.40 support targeted. Downgrade on MACD support break. Clarity on bearish EEM break of wedge support and the dollar getting a lift in EM. USD/MXN macro trade theme off of long term base line support. By Thomas Schroeder - https://www.smartkarma.com/profiles/thomas-schroeder?utm_source=tiger_community On iShares MSCI Emerging Markets (EEM US) - https://www.smartkarma.com/entities/ishares-msci-emerging-markets?utm_source=tiger_community
EEM Support Break with USD/EM Bounce ClarityDisclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.