TALKING TECHNICALS

Emerging market crises have typically offered buying opportunities for the long term

The long-term upward trend for this ETF comes in at $45. To get there, the local equity market, the rand, or both would need to weaken further.

Sharp losses on this ETF have typically provided decent opportunities for aggressive investors to take exposure to SA equities in dollars. If one believes SA is going through a “darkest before the dawn” moment, any further weakness towards $45 in the months ahead may present an opportunity to buy this ETF.