$EPHE iShares MSCI Philippines ETF is forming a Potential Bearish Shark Harmonic Pattern that aims to be completed at 41.71.
Philippine Index has double top, a bearish divergence using the EPHE/USDPHP spread showing this rally is weak in nature and must be shorted. Target zones are the 1.00 (full retracement to 29.69) or a newer low at 24.00 Risk reward is skewed to the shorts.
We note that 2015's peak of 8100 has been shown by the bearish divergence based on the index price versus dollars. Since topping during May 2013, the Philippine index has already been in a bear market. It's currently staging a relief rally which will be capped at the 0.75 level thereabouts. This spread chart is only an illustration to short EPHE and be...
Lining up pretty nicely for a continuation of a long term bullish trend. wait for a break with authority for confirmation.
Its seems that EPHE is forming a Possible Bullish Gartley with Potential Reversal Zone (PRZ) at 25.13. Ichimoku is showing extreme bearishness of EPHE.