While most developed stock market indexes have been heading higher in 2021, the Emerging Markets ETF (EEM) has been trading sideways to lower.

The year started off with a bang for $EEM as the ETF made new highs into February before stumbling for the next 7 months.

Looking at the “weekly” chart from Marketsmith.com of Emerging Markets ETF (EEM), the downward price action has formed what appears to be a bearish descending triangle over the past few months at (1).

With key technical support breaking down, it appears that $EEM could make a “measured move” decline of 12% to (2) on the chart.

Are Emerging Markets about to submerge? Stay tuned!

This article was first written for See It Markets.com. To see the original post CLICK HERE.


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