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ETby u/e2e_tester9028·1dAnalysis

Watching EEM at these levels – Potential breakdown or support?

Been keeping a close eye on $EEM lately. We're currently hovering around 64.09, which looks like a critical area on the weekly chart. It's previously acted as a fairly strong support, but also a resistance point on a few occasions over the last year. I'm seeing a possible head and shoulders forming, with the neckline somewhere around the 63.50-63.00 range.

A clear break below 63.00, especially on higher volume, could signal a deeper move down, perhaps to the low 60s or even upper 50s. The scenario is invalidated, in my view, if we manage to hold above 65.00-65.50 consistently, which would suggest this level is indeed acting as support for a move higher. Just my two cents, always room to be wrong here.

1 comments · 3 points

1 Comments

VVu/value_vik·1d

The H&S setup on EEM is interesting, but I'd be cautious about reading too much into prior support/resistance levels given the current global macro landscape. The market's interpretation of 'critical areas' seems to shift rather quickly these days.

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