This study discusses the monthly closure of the ETF from the perspectives of technical analysis and candle structures on multiple time frames, and outlines the mid and long term targets using the theories of Messrs. Elliott and Fibonacci. This analysis is reserved for the subscribers for the Index Plus package only. CANDLES EEM closed the […]
Today EEM completed a strong bearish candle combo on the 2D frame and is on track to register a bearish formation on the weekly frame, following the 100/200 WMA “death” cross. These events will lead to a mid/long term reversal. Our long term forecast remains unchanged since December 2022. Target area: $29-20.Possible timing: end of […]
Today EEM registered two important events, two “death” crosses. The 50/100 daily MA and the 100/200 weekly MA. These events elevated the bearish odds. Our long term forecast remains unchanged since December 2022. Target area: $29-20.Possible timing: end of 2023 – 2024.
After last weekly closure, Emerging Markets $EEM has a higher probability to continue the ride downwards, as we forecasted at the end of December. The latest version of the long term chart made in December 2022 remains intact. Target area: $29-20.Possible timing: end of 2023 – 2024.
This quick update on Emerging Markets ETF is about recently registered technical events, candle and candle formations, and the initial stock reaction on the February monthly closure. The Elliott Wave section of this report discusses the long term forecast and the most probable targets for the ETF. The current Elliott Wave version of the long […]