EEM - bearish formation / to fall below $45

EEM has today:

a) dropped -1.8% on the day to complete a bearish Head and Shoulders pattern
b) the relative strength has been declining since October
c) the RSI is now below 50
d) the 2 days ( 6th and 7th Dec) that traded below 45.5 were early signs of a reversal, taking out the higher lows that were the hallmarks of 2017

Short-term target $44.

We have almost the same analysis, but I have the H&S base using the Dec 6 & 7 mins, so I have the neck breakdown at 44.9 with a target of 42
MVedra isaacmo84
@isaacmo84, you could be right. I think Dec 6 & 7 would have sucked all the early shorts in (and taken out the longs who had stops just below $45.50). Yesterday's green bar would have made some investors think to re-enter long or close shorts. I'm still OK to stick with the $45.50 level because its been such a heavily traded area.. the 4 days it sat there on the 19th September is telling. I do like your $42 target
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