Fibonacci levels are used by technical traders to measure important support resistance levels.
“On the longer-term weekly chart of DLS, there is support from a dominant uptrend line that began with the low of June 2013. The longer a trendline has been in place, the more likely that trendline is to continue providing support,” added Wagner.
Since bottoming in July, DLS has made a series of higher highs, a bullish sign. The ETF currently resides almost 12% above its 200-day moving average.
WisdomTree International SmallCap Dividend
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of IWM.