OmahaCharts

Technical Analysis of Financial Markets

An Opportunity Presents Itself In Singapore ETF

An Opportunity Presents Itself In Singapore ETF

Good morning and happy Monday everyone! You may remember in my first blog of 2019 I highlighted an opportunity in $EWZ, an ETF tracking Brazil. Here is that article as a refresher:

“Brazil Bout Ta Get Naughty”

I still have the lines drawn on that same chart and you can see what price has done in the month since the article was published:

OmahaCharts ETFs Analysis - An Opportunity Presents Itself In Singapore ETF

I think the $EWS (Singapore ETF) looks similar to EWZ before the move higher:

OmahaCharts ETFs Analysis Two - An Opportunity Presents Itself In Singapore ETF

Price rests upon a bed of support comfortably, as it waits to follow in the footsteps of a country over 10,000 miles away.

I started my week by taking some March calls as a starter here.

Trent J Smalley, CMT