Impressive Gains in Country ETFs
09/09/2010 10:03 am EST
With most of the major US averages just up or down slightly for the year, some of the country-specific ETFs have shown impressive gains. This weekly chart of the iShares MSCI Turkey Investable Market Index (TUR) is up 15% for the year. The weekly trading range has major resistance in the $63.60 area. The OBV is strong and an upside breakout has targets at $85. Initial support is now at $58 with further support in the $52.50 area. For more on some country-specific ETFs that have performed even better this year, be sure to read this week’s Trading Lesson, due out later today.
Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com. The views expressed here are his own.