1
YSby u/yousef.saleh·2dAnalysis

EEM looking constructive off that 62.80 area

Been watching $EEM a bit today and that bounce off the ~62.80 support, which was basically the low from earlier this week, is looking pretty decent. We've got a bit of a higher low forming on the hourly if it holds here, and if it can clear 64.20, which was resistance for a good part of the morning, then I think there's room to run toward the 65.00-65.50 range. The whole setup gets invalidated if we start closing candles below 62.80 again, that would probably signal a retest of the lower 62s. Just my read on it, obviously anything can happen.

1 comments · 1 points

1 Comments

TLu/tuan_le·2d

It's a bounce, sure, but calling it "constructive" after just a day of trading seems a bit premature. Let's see if it holds that level through the close and into tomorrow before getting too optimistic.

1

More like this