The iShares MSCI Emerging Markets ETF (EEM) has been on a steady progression higher for the past 11 months, ever since hitting a swing low of $33.94 in December of last year. Last month, EEM reached a high of $47.93 before it started to weaken.
From the December low to last month's high, EEM had advanced $13.99, or 41.22%. During that advance, there was a steady pattern of higher monthly lows and higher monthly highs, which identified an uptrend. As of yesterday, that pattern has changed.
Read more at:
https://www.investopedia.com/trading/bearish-monthly-reversal-eem-emerging-markets-etf/
From the December low to last month's high, EEM had advanced $13.99, or 41.22%. During that advance, there was a steady pattern of higher monthly lows and higher monthly highs, which identified an uptrend. As of yesterday, that pattern has changed.
Read more at:
https://www.investopedia.com/trading/bearish-monthly-reversal-eem-emerging-markets-etf/
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