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Over the past several weeks, the Market Vectors Vietnam ETF (VNM) has demonstrated excellent relative strength, as it has been one of the few ETFs to hold support of its 20-day EMA during the recent round of selling pressure. Yesterday, VNM undercut, but managed to reclaim support of its 20-day EMA. If VNM can form a reversal candle or post an “inside day”, it could present a possible buying opportunity particularly if the market finds support at the current levels.

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