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After a week long shakeout below the prior swing low 10/31, iPath MSCI India Index ($INP) reversed sharply off the lows and back through the 50-day MA. We first mentioned $INP as a potential buy setup a few weeks ago after analyzing the weekly chart, which recently broke a two year downtrend line. After the initial thrust up, $INP has formed an 11-week base and is now back above the 50-day MA, attempting to put in a higher low. We are looking to build a position in $INP if it can hold support of the 20-day EMA and push higher. Trade details can be found in the today’s watchlist section…

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