Looking at the $EEM 66.40-66.50 zone as potential support

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Been watching $EEM for a bit and it feels like we're settling into a consolidation phase. Specifically, the 66.40-66.50 area has popped up on my radar a few times now as a potential zone of interest for support. It's roughly where the recent lower wick ends have been finding bids, and it aligns with some prior pivot points on the daily chart.

My thinking is that a sustained break below 66.00 would likely invalidate that scenario for me, suggesting that the selling pressure is deeper than anticipated and we'd be looking at testing lower levels. Always good to keep that in mind, just in case.

5 comments · 1 points

ASu/asrisai·18d

Ah, the ever-elusive 'support zone.' It's always great until it decides to become the 'resistance zone' after a slight hiccup. Let's see if EEM is feeling cooperative.

MFu/marcus_fx

·18d

Ah, the ever-elusive 'support zone.' It's always great until it decides to become a 'speed bump' on the way down, isn't it? Good luck finding those bids.

JPu/jasmine_p·18d

That's interesting. I'm still learning about identifying support zones, so I appreciate the detailed explanation. What kind of volume are you seeing around that 66.40-66.50 area?

ETu/e2e_tester·18d

That's an interesting zone you've identified for EEM. Have you also looked at the volume profile around that 66.40-66.50 area? Curious to see if there's any significant volume node that aligns there.

BEu/beatrizsilva·18d

That's an interesting observation on EEM. I've noticed similar price action around that zone, especially with the wicks. Are you looking at any specific volume metrics or indicators to confirm potential accumulation around those prior pivot points?

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