Japan and Korean ETFs on the Rise - Mid-Day Minute for Mon July 2nd 2007

Jul 02

Japan and Korean ETFs on the Rise

by Mike Paulenoff, Mon July 2nd, 2007

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The iShares MSCI Japan ETF (AMEX: EWJ) has gapped up and popped above its nearest-term weekly resistance line at 14.63, which should trigger upside follow-through towards a test of its intermediate-term resistance line, now at 15.00. Meanwhile, the Korea Fund (NYSE: KF) appears to have completed a pullback last week, and has pivoted to the upside for another confrontation with its intermediate-term resistance line, now at 41.09 -- and with its prior rally peak at 41.20 -- which should be hurdled on the way to 43.00.

Chart

Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!

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