Chilean equities don’t seem to get the spotlight very often so I thought it was worth taking a look at the latest price action in the iShares Chile ETF ($ECH). In my TraderPlanet article this week I highlight three potentially bullish signs for Chile and the levels I’ll be watching for confirmation.
Here’s a piece:
Looking at the latest price action in ECH we can see a false break of the previous low. I’ve drawn a green trend line off the August low, and as you can see on the chart, we broke under it for one day last week. However, the next day and with more strength on Monday, saw price show break back above that low as buyers stepped up in force. If bulls continue to control the price action in ECH I’ll be watching to see if we can break the trend of lower highs and get above the falling trend line that’s right around $47.
Go read the rest: Bullish Signs For Chile Equities (TraderPlanet)
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Disclaimer: Do not construe anything written in this post or this blog in its entirety as a recommendation, research, or an offer to buy or sell any securities. Everything in this post is meant for educational and entertainment purposes only. I or my affiliates may hold positions in securities mentioned in the blog. Please see my Disclosure page for full disclaimer. Connect with Andrew on Google+, Twitter, and StockTwits.
