EEM Resuming Bull Market Started in 2016
Emerging Markets (EEM) seem to be resuming the bull market that started in early 2016.
1) Recently broke out from downward channel
2) Broke out from alternative shorter term negative trend line
3) Is in the track to end the week confirming a bullish pivot, surpassing the last short term top.
Medium term objective is last major top the occurred in jan 18.
Long term objective is a major long term impulsive move with similar magnitude and duration of the jan 16 - jan 18 uptrend move.
Stop at the same level the EEM completed its pullback to the negative channel.
1) Recently broke out from downward channel
2) Broke out from alternative shorter term negative trend line
3) Is in the track to end the week confirming a bullish pivot, surpassing the last short term top.
Medium term objective is last major top the occurred in jan 18.
Long term objective is a major long term impulsive move with similar magnitude and duration of the jan 16 - jan 18 uptrend move.
Stop at the same level the EEM completed its pullback to the negative channel.
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