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News Breaks | | | | January 30, 2013 | | 15:28 EDT |  | VNM | Market Vectors Vietnam ETF breaks above recent resistance
The ETF has broken out above resistance at the $22 area. This had been prior support in 2010, and more recently has been resistance. There is a bullish pennant that is active on the daily chart, suggesting there could be upside to the $26 area over time. That would be roughly where the ETF dropped off sharply in price in May 2011. Vietnam has become a focus for some hedge funds in recent months as having better growth prospects than other regions. | |
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