Given recent tensions in the Middle East, the Saudi Arabian ETF sold off and back-tested the previous resistance trend-line. The ETF has now rebounded off this trend-line, and looks bullish to continue to the July highs. Given the slightly weaker dollar macro picture, EM countries should be supported. KSA is a good play for a de-escalation in the Middle East and continued EM strength.
Comment:
Stopped out.
Trade closed: stop reached