Southeast Asia EM’s Testing Key Breakout Levels
Our focus has been on Asia quite a bit in the past few months with several markets scoring big breakouts or reversals. Two markets to add to the list (based on their ETF’s) are Thailand and the Philippines. After consolidating this summer, each of them broke out above the key 61.8% Fibonacci Retracement of their 2013 declines. They are now testing that breakout level. If they can hold (or quickly reverse back above) this level, these are attractive long entry points.
iShares MSCI Thailand (THD):
iShares MSCI Philippines (EPHE):
_________
More from Dana Lyons, JLFMI and My401kPro.
