The iShares MSCI Singapore Index Fund ETF (EWS) has been in range for the past two and half months are so and may be close to another move. A small tight consolidation pattern has formed over the past week after a previous 1-week rally. Resistance $13.99/14.00 has been hit several times recently and held so far. This level was also hit back in mid-October 2010.
Short term moving averages have now crossed up through the longer term moving averages.
A move through $14.00 on good volume could see a continuation to the upside as EWS attempts to break above resistance of $14.56, the high hit in early November 2010. (www.etf-portfolios.com)
