Bombay Breakout?

07/22/2010 9:53 am EST


Thomas Aspray

, Professional Trader & Analyst

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While many investors seem to be avoiding the emerging markets due to the sharp decline in the Chinese market, some of the other emerging markets look much better. The major Indian market index, the Bombay Sensex Index, is trading just below the major resistance in the 18,200 area. A decisive move above this level would create a strong area of support between 16,000 and 18,000. Volume has not been strong over the past month, but the weekly OBV is still positive.

Tom Aspray, professional trader and analyst, serves as video content editor for The views expressed here are his own.

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