The dominant chart construction in EM futures remains the completed 10- month H&S bottom pattern on the weekly chart wherein the final stage of the right shoulder was an independent 5-week H&S on the daily graph.
The dominant chart construction in EM futures (Emerging Markets) remains the completed 10- month H&S bottom pattern on the weekly chart wherein the final stage of the right shoulder was an independent 5-week H&S on the daily graph (red box). The initial profit target is 951 with a further potential of 1100 (Sep 2014 high). I continue to note the substantial overhead resistance on the weekly graph above 850.
The chart of EEM-etf is also shown.
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