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[Mr Dev]

recent EEM strength up into resistance has the 60m MACD up at these levels we see sharp pullbacks . although MACD is in the ob bullish zone, it has already crossed down and should pressure EEM price lower. how low ..i dont know but the EEM popped straight up into resistance ... which was supported by its overall strength last month. this month it has held in there like it was the DOW...and has been moving close to the dows percentage action.. so it too is within recent high territory. it was the second week of april when the EEM made its recent highs and then fell sharply. since then its made another recent lower high around the 21st (which was near a gold low) and then if fell back to retest the lows for this month . now its up at key 60m MA resistance and at the down sloping trend line drawn from the 3 lower highs this month. so if you want to diverse .. its worth a flyer or entry position to short it here thru EUM or EEV .. as the EEM and XAU are starting to move inverse of each other and... im expecting a pop in the miners. just use a reasonable stop as we are now less than 24hrs for a FOMC announcement. have a good trade.

Edited by Mr Dev, 29 April 2014 - 02:06 PM.