The below is the weekly chart of the US2000. The orange 13-week EMA is looking to cross below the black 34-week EMA (blue ellipse). This will put the EMAs into a bearish stack. I.e. the green 5-week EMA will be below the orange 13-week EMA, and the orange 13-week EMA will be below the black 34-week EMA. The RSI(9) is already below 50 and indicative of an underlying bearish momentum. However, if the EMAs develop angle and separation it will be regarded as a bearish development. We continue to monitor.
Past performance is not an indicator of future results.
CHART SOURCE: FXCM MARKETSCOPE 2.0
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