Friday, January 08, 2010

Watch This ETF



Here's a chart that looks like it's about to make a move. Above is a daily chart of EWG which is the iShares for the German market. You'll notice that a large symmetrical triangle has developed over the past 3 months. A close above $23 might prove to be quite bullish for this ETF.

3 comments:

mingworld said...

Thanks Kevin.

Shanghai Index has a similar pattern.

http://twitpic.com/xayr0

Tim said...

Thanks Kevin for the heads up on this - I just saw your post and checked the chart. Price is still in the triangle but it's getting tighter - a break up(or down) is around the corner.
Cheers
Tim
wwww.eminifuturesblog.com

Anonymous said...

looks like the breakout happened, to the downside, d-oh

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