GREK outperforms among countries
As we can see in the chart, GREK – the Global X MECI Greece ETF – went through a phase of consolidation, the blue box. As soon as, though, price reached its 10-day exponential moving average, the bulls decided to push price up again.
Price has already started moving along the upper Bollinger Band. As momentum is building up MACD has already turned up and touched its signal line.
It’s important to note that the 10- 20- and 50-day exponential moving averages are all rising since the impressive breakout at the end of May.
Finally, GREK’s Relative Strength has started moving up again and above its rising 20-day exponential moving average