Emerging Markets Indicates Deeper Correction On Stocks
Hello traders and investors!
Today we want to show you an interesting chart with clear Elliott Wave pattern suggesting deeper correction, which may have an impact on stocks across the globe.
We are talking about Emerging markets (EEM), where we clearly see a completed five-wave cycle from March 2020 lows following by bigger and deeper (A)-(B)-(C) correction. As you can see, after we noticed a bearish triangle pattern in wave B), we can now see it breaking even lower, ideally for wave (C) that can send the price down to 42 support area.
If that's the case and EEM goes sharply and impulsively for wave (C) then be aware of a bigger decline on stocks now at the end of the year.
Trade and invest smart!
If you like what we do, then please like and share our idea.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Today we want to show you an interesting chart with clear Elliott Wave pattern suggesting deeper correction, which may have an impact on stocks across the globe.
We are talking about Emerging markets (EEM), where we clearly see a completed five-wave cycle from March 2020 lows following by bigger and deeper (A)-(B)-(C) correction. As you can see, after we noticed a bearish triangle pattern in wave B), we can now see it breaking even lower, ideally for wave (C) that can send the price down to 42 support area.
If that's the case and EEM goes sharply and impulsively for wave (C) then be aware of a bigger decline on stocks now at the end of the year.
Trade and invest smart!
If you like what we do, then please like and share our idea.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
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