Europe–Trying to Hold Lows

10/21/2008 9:28 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst


The world markets stabilized yesterday, and though the charts allow for a rally in IEV back to the $40-$44 area, there are no signs yet of a major low. The first key resistance is in the $36 area, and a move above this level would be a short-term positive. Short-term support now at $28.50-$30.

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