MSCI Emerging Markets Wave Analysis (January 30, 2017)

Lets take a look at the wave chart of our MSCI index where in our market belongs. Base on monthly chart the index is forming a TRIANGLE pattern with point D max target estimation of around 1215. 

Monthly Chart

On the Daily chart the index is still bullish. It shows a bullish inverted head and shoulder pattern whose projected target is not yet reach.

Daily Chart

In general the MSCI index is bullish in the short term with a potential of market correction towards the end of the year.