Technical Commentary: The MSCI EM Asia index replicates the performance of the Asian large and medium cap market. ……
Day By Day – Indipendent Research
In the shorter term, prices are also evolving in a bullish dynamic, alternating acceleration and consolidation phases. The latest consolidation phase has been contained by the 369.50 points support, corresponding to the 38% retracement ratio of the last bullish impulse. This solid level should allow the trend to resume towards the 387 points resistance – March 2012 highs.
The 100-day moving average (ascending) is nearby and confirms our anticipation.
We are short-term bullish and we set the invalidation threshold of this scenario slightly below the 369.50 points support, which breach would generate a deeper correction towards the 360.40 points support.
|2 months Opinion||BULLISH|
|2 weeks Opinion||POSITIVE|
|Resistances||387 / 396,3 pts|
|Supports||369,5 / 364,4 pts|
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Source: ETFWorld – Day By Day – Indipendent Research