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Technical Analysis: MSCI EMU SMALL CAP : bullish impulse

EURO_BANDIERA

The MSCI EMU SMALL CAP is an index measuring the performance of small caps in the Euro zone. It showed, since the month of May, a bearish trend guided by the 50-daymoving average....


Day By Day – Indipendent Research


This dynamic was turned around by the formation of a double bottom on the solid support at 120.20 points: we are therefore bullish in the medium-term.
 

20102011

Anticipation  :
In the shorter-term, the index exited from the top of a bearish channel. It simultaneously overflowedthe 50-daymoving average.The trend has reversed to the upside. We are thereforeshort-term positive and we forecast rallying towards the resistance at 138.50 points, the last peaks of August.
A pullback is possible to test the support at 129.10 points. We place our stop-loss below this threshold

Close price 134.76

2 months Opinion BULLISH
2 weeks Opinion POSITIVE

Resistances 138,5 / 144 pts
Supports 129,1 / 120,2 pts


Follow-up Analysys: Our DBD Tracker dated 07/10/2011 recommended the AEX index. Since then, prices have overflowed, and therefore the position offers a performance of 2.56%.


DISCAIMER

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Source: ETFWorld – Day By Day – Indipendent Research

 

 

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