MPTrader Mid-Day Minute - iShares MSCI Japan ETF Gaps Up

By: Mike_Paulenoff

The iShares MSCI Japan ETF (AMEX: EWJ) has gapped up and popped above its nearest-term weekly resistance line at 14.63, which should trigger upside follow-through towards a test of its intermediate-term resistance line, now at 15.00.

Meanwhile, the Korea Fund (NYSE: KF) appears to have completed a pullback last week, and has pivoted to the upside for another confrontation with its intermediate-term resistance line, now at 41.09—and with its prior rally peak at 41.20—which should be hurdled on the way to 43.00.

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By Mike Paulenoff

Mike Paulenoff is editor of the MPTrader.com (www.mptrader.com) , a real-time diary of Mike Paulenoff's trading ideas and technical chart analysis of Exchange Traded Funds (ETFs) that track equity indices, metals, energy commodities, currencies, Treasuries, and other markets. It is for traders with a 3-30 day time horizon, who use the service for guidance on both specific trades as well as general market direction

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