Chart Analysis: Singapore ETF, EWS
The iShares MSCI Singapore Index Fund ETF (EWS) has been in range for the past two and half months are so and may be close to another move. A small tight consolidation pattern has formed over the past week after a previous 1-week rally. Resistance $13.99/14.00 has been hit several times recently and held so far. This level was also hit back in mid-October 2010.
Short term moving averages have now crossed up through the longer term moving averages.
A move through $14.00 on good volume could see a continuation to the upside as EWS attempts to break above resistance of $14.56, the high hit in early November 2010. (etf-portfolios.com)
Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in EWS over the next 72 hours.
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