Emerging Mkt ETF: BULLFLAG will make a 55% run from current 58
IEMG has very high probability of reversing due to the recent formation of a diamond pattern.
Some more downside move to the base of pitchfork is still possible but unlikely due to the BULLFLAG formation. Also smart money has already been accumulating with increasing volume during this flag consolidation. Macd, Stochastics & RSI turning up.
Either Wave 5 starts or more probable is this current wave 3 shall extend after this flag consolidation with a FIB EXT target price of 90, a 55% run.
Not trading advice
Some more downside move to the base of pitchfork is still possible but unlikely due to the BULLFLAG formation. Also smart money has already been accumulating with increasing volume during this flag consolidation. Macd, Stochastics & RSI turning up.
Either Wave 5 starts or more probable is this current wave 3 shall extend after this flag consolidation with a FIB EXT target price of 90, a 55% run.
Not trading advice