At the end of last week, investors closed short positions worth $547m. from iShares Core MSCI fastest-growing ETF. Investors reduce their short positions with two other funds with another $190m. The positions in question are open at the end of September when the strong dollar was able to undermine appetite risk. The reversal of stocks this month has been against these bets, closing them to boost demand for assets from emerging markets.
At the moment, the ETF is trading in a strong upward trend near historic levels, with any adjustment being comfortable to buy. The first level of support is $55.50. SL order we can set at levels around $55.00.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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