That is significant because all though EPI has surged this year, the ETF is still 30% its all-time high set in late 2010.

The chart “reflects that the strong rally has taken EPI to the top of a trading channel and momentum is reaching lofty levels, actually the highest in the past four years,” notes Chris Kimble of Kimble Charting Solutions. “A breakout of this channel would be a big positive event for EPI should it happen. The chart does reflect that  EPI’s upside has been a little limited when momentum is at current levels over the past few years.”

WisdomTree India Earnings Fund

Chart Courtesy: Kimble Charting Soluitions