$EEM - SAFE HAVEN -
Added 2024-01-09 13:27:54 +0000 UTC$EEM is an emerging markets ETF which I have been watching in the background and fits very well into our safe haven and long term strategy.
I was watching to see how $EEM would handle its support on the 0.618 Fib at $37 and it has been able to hold strong support above this level for the last 7 months.
The price has now broken above the 50 and 200 Day MA and it is just testing the 200 Day MA from above now, a hold here and we could start to see the price action starting to move up next....especially with having the 50 and 20 Dma so close to each other.
Japan, India, Germany have all been pushing higher lately, so emerging markets could follow next. Brazil being the perfect example, as its market ETF is looking bullish.
