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European markets shrugged off concerns over a tumultuous two-day summit, where Trump met with leaders from Europe and Canada, which resulted in the U.S. incumbent refusing to endorse the joint G-7 statement that called for a reduction of tariffs — sparking tensions between him and fellow G-7 leaders.  The iShares MSCI Germany ETF (EWG) rose 0.8 percent Monday, bringing its MTD gains up to 2.6 percent.  Now the question is whether the rally has more legs?  Below is an update look at a trade in EWG.

The graphic below is from our “U.S. Market Trading Map”, show the near-term technical bias and trading ranges.  As shown, the underlying is in a short-term bullish trend when the price bars are painted in green.  The underlying is in a short-term bearish trend when the price bars are painted in red. 

Chart 1.1 – iShares MSCI Germany ETF (weekly)

Our “U.S. Market Trading Map” painted EWG bars in red (sell) – see area ‘A’ in the chart. EWG has been on a tear in recent days after the late May selloff found support near the 38.2% Fibonacci retracement of the 2016-2018 upswing.  The early June rally pushed the ETF up against resistance at the 4-year moving average.  That level was significant in charting terms…Click here to read more.

You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.

 

This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?

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