A Bearish Look at the EM’s Using Daily and Weekly Charts

I am not going to pretend to have played this well so far.  I have not.  Since identifying the bearish pattern on the weekly chart and a target zone to short at 36 I have played Keystone Kop in trying to trade it.  I did re-take the position (using EEV) and it is profitable as of now.  EEM is dropping below support and the SMA 50 today.

eem daily chart

Regardless of the daily squiggles, the weekly is what I have found bearish for months now.  A bounce to test the breakdown was needed and it may be complete.  That makes the daily important now.  Bulls need to quickly reverse the breakdown on the chart above or bearish potential would be down to 25 or so.

eem weekly chart

Subscribe to NFTRH Premium for your 25-35 page weekly report, interim updates and NFTRH+ chart and trade ideas or the free eLetter for an introduction to our work. Or simply keep up to date with plenty of public content at NFTRH.com and Biiwii.com. Also, you can follow via Twitter @BiiwiiNFTRH.