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Technical Analysis: MSCI EM EASTERN EUROPE : inside a bullish channel

RUSSIA

The MSCI EM EASTERN EUROPE is the benchmark of Eastern European Equity markets: The Czech Republic, Poland, Hungary and Russia. Except for a brief period in the spring of 2010, the Index has steadily evolved into an uptrend, and the recent overflowof 2010 peaks again confirms this trend…...


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Day By Day – Indipendent Research


17012011 1


 

Close price 247,43

2 months Opinion BULLISH
2 weeks Opinion POSITIVE

Resistances 265 / 283 pts
Supports 237,6 / 225,8 pts

Anticipation  :
In the shorter-term, prices are evolving inside an ascending channel and just overflowing the former resistance at 237.60 points, which became a support, corresponding to former peaks. A decline towards this level is possible before resuming the bullish path. The main objective is a return towards the major resistance at 283 points, which is a 62% retracement of the decline. An intermediate target is located at 265 points. Our level of invalidation is below the first support at 237 points.

Traker’s Name Leverage Expense ratio
iShares MSCI Eastern Europe x1 0,74%
Lyxor ETF Eastern Europe x1 0,50%

* A leverage of 1 means that the ETF/Tracker has the same performance as the underlying index. A leverage of 2 indicates that the ETF/Tracker will have twice the performance of the underlying index. A leverage of -1 indicates that the ETF/Tracker will perform opposite that of the index: it will rise while the index falls, and vice versa.

 


DISCAIMER

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Source: ETFWorld – Day By Day – Indipendent Research

 

 

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