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Thoughts on $EEM hitting resistance around 65.00 today
Watching $EEM today, it ran up to pretty much exactly 65.06 before pulling back a bit. I had that 65-ish level marked as a potential resistance zone from some prior highs, so it's interesting to see it react there. If it can break convincingly above 65.20 and hold, then I think we could see a push higher, but for now, that area seems to be a sticky point. The risk, of course, is that it fails to clear it and potentially rolls over back towards the 63.50 support, especially if the broader market loses steam.
1 comments · 11 points
It's reacting to that level, sure, but the volume on that push wasn't particularly convincing. I'd want to see a much stronger close above 65.20, ideally with higher than average volume, before getting excited about a breakout.