Is The Emerging Markets ETF (EEM) About To Sink 12 Percent?

While most developed stock market indexes have been heading higher in 2021, the Emerging Markets ETF (EEM) has been trading sideways to lower.

The year started off with a bang for $EEM as the ETF made new highs into February before stumbling for the next 7 months.

Looking at the “weekly” chart of the Emerging Markets ETF (EEM), the downward price action has formed what appears to be a bearish descending triangle over the past few months at (1).

With key technical support breaking down, it appears that $EEM could make a “measured move” decline of 12% to (2) on the chart.

Are Emerging Markets about to submerge? Stay tuned!

Emerging Markets ETF (EEM) “weekly” Chart

emerging markets etf breaking down lower decline forecast chart august

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