EEM ends the day indecisive

iShares MSCI Emerging Markets ETF (EEM) Technical Analysis Report for Dec 04, 2019 | by Techniquant Editorial Team


EEM ends the day indecisive


EEM ended Wednesday at 42.63 gaining $0.32 (0.76%). Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (EEM as at Dec 04, 2019):

Daily technical analysis candlestick chart for iShares MSCI Emerging Markets ETF (EEM) as at Dec 04, 2019

Wednesday's trading range has been $0.13 (0.3%), that's far below the last trading month's daily average range of $0.25. Things look different on the weekly timeframe, where the market's trading range of the last week has been above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for EEM.

Two candlestick patterns are matching today's price action, the Southern Doji which is known as bullish pattern and one neutral pattern, the Doji. The last time a Southern Doji showed up on October 2nd, EEM gained 1.29% on the following trading day.

Prices are trading close to the key technical support level at 42.35 (S1).

The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend still being bullish.

Market Conditions for EEM as at Dec 04, 2019

Loading Market Conditions for EEM (iShares MSCI Emerging Markets ETF)...
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