full disclosure: I'm long the Dec19'14 puts @ $50
both the 13 (blue) and 34 (pink) Bollinger Bands have flattened out.
the 50 day MA is rising and the 200 day MA is relatively unchanged since late June.
the daily Williams %R is at -70; this indicates that pressure might turn negative.
based on these observations, $EWZ could see more losses in the near term.
upside levels to watch: $51.85, $55.51
downside levels to watch: ~$50, $48.37, $46.44
both the 13 (blue) and 34 (pink) Bollinger Bands have flattened out.
the 50 day MA is rising and the 200 day MA is relatively unchanged since late June.
the daily Williams %R is at -70; this indicates that pressure might turn negative.
based on these observations, $EWZ could see more losses in the near term.
upside levels to watch: $51.85, $55.51
downside levels to watch: ~$50, $48.37, $46.44