The Emerging Markets Index Fund ETF (EEM) is at an important juncture now, currently $45.50.
As the chart below shows, EEM now sits at the lower end of an upward trending channel, which has held as support back in November and before that served as resistance.
If you look closely you should see a somewhat slanted head and shoulders pattern which if it works out could mean EEM trades down to near the $41 level. On a much longer term weekly chart I see a similar pattern, which if that one breaks could have much worse consequences.
