The popular iShares MSCI Emerging Markets ETF (NYSE:) topped out on January 26, 2018 along with the major stock-market indexes. EEM’s January peak was $52.08 and since that high in the share price, it has tumbled. Currently, the ETF is trading down by 0.54 cents to $46.64 a share.

Critical Support

At this time, the EEM is holding and trading just above its important 50-week moving average. Should price close below this major moving average, the next critical support area will be around the $42.75 level. This support area would be a major retrace level where the equity broke out in August 2017. Often, major breakout levels will serve as major support when retested. Keep $42.75 on your radar for the EEM.

MSCI Emerging Markets ETF

MSCI Emerging Markets ETF

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