The EMXC closed this week at $92.12 currently we have blown past our 1.68 Fibonacci retracement of $94.21 and have landed on or 20 week moving average. Since the war on Iran is influencing the price of oil this week we are looking at testing the 20 week moving average closing next week down possibly 4%. If by chance we break down past the 4% landing at our next down leg of our retracement we may be looking at a testing the 50 day moving average closing down close to 10%. If the dollar keeps on falling we can possibly find a rebound. This week lets see what the Japanese and Korean de-dollarization does for these markets and the US Dollar.