iShares MSCI Emerging Market ETF (EEM) is currently testing the 200D SMA support and also the uptrend support line. This support also coincides with 61.8% Fibonacci Retracement Level. Will EEM rebound from the support?
What is EEM?
The iShares MSCI Emerging Markets ETF seeks to track the investment results of an index composed of large- and mid-capitalization emerging market equities.
USO is currently testing a critical Resistance turned Support at about $10.30. This level is also the last defence of 38.2% Fibonacci Retracement Level. Breaking this support indicates the recent uptrend has over. USO is currently trading below 20D, 50D and 200D SMA.
See previous post on United States Oil Fund (USO) here.
iShares Silver ETF (SLV) has been on very bullish mode for these two months after breaking out from the Inverted Head and Shoulders (trend reversal pattern) and retested the neckline (illustration in green). SLV is expected to retrace into consolidation mode after reaching the 161.8% Fibonacci Expansion Level. Currently SLV is just sitting above 20D SMA support. Next critical support is at $17.00 (in blue).
SLV is currently on bullish uptrend. By looking at the current trend and long term chart, can you spot any investment opportunity? Happy Hunting!
Original post from https://mystocksinvesting.com
