IShares MSCI France Index Fund (EWQ) : Short Sell @ $2145

Trading Central
updated | Author's Website

DROP EXPECTED

From a technical view, the ETF is facing a strong resistance area (lower boundary of a triangle which is acting now as a resistance).



Regarding technical indicators, the daily RSI is approaching a tentative declining trend line while the 50D moving average (blue line) is turning down increasing downward momentum.



On a relative basis against the IVV S&P500, the iShares MSCI France Index Fund is shaping a rising wedge pattern which calls for a drop.



Trading strategy:

Short Sell @ $21.45 – Stop loss @ $21.70 – Target @ $19.90

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