Switzerland ETF in a steep bullish trend
Since early March EWL – the iShares MSCI Switzerland Capped ETF – was following a rising channel, see the two orange lines that join the highs and the lows respectively.
Then, at the beginning of June, EWL’s bullish momentum got even stronger and as a consequence price started moving between its 10-day exponential moving average and the upper Bollinger Band. By the way, as we can see in the blue box, both these lines are rising steeply.
Another important factor to note is that MACD has been in positive territory since early January and moves above its signal line since early June.
Finally, EWL’s Relative Strength is moving up and above its rising 20-day exponential moving average.