Emerging Markets Rebound Nicely

06/26/2009 9:41 am EST


Thomas Aspray

, Professional Trader & Analyst

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The emerging markets ETF (EEM) tested first support in the $30 area early this week after breaking the daily uptrend last week. EEM is now back above $32 with key resistance in the $34-$34.70 area. The weekly analysis is positive, but the daily analysis allows for a further correction. Still, the 200-day MA should hold.

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