Emerging Market Futures in Double Bottom Setup with 1350 Target MSCI EMERGING MARKETS INDEX FUTURE (CONTINUOUS: CURRENT CONTRACT IN FRONT) ICEUS:MME1! Ceddy86 Trend Analysis The main view of this trade idea is on the 2-Hour chart. MME1! Appears to be in a double bottom pattern setup, with the price currently trading around the second low of the setup, around the 1300 price level. Expectations are for MME1! to rally towards the top of the double bottom pattern setup, 3.3% away from current levels. Technical Indicators MME1! appears to be a couple candles before the completion of the double bottom pattern setup. The futures contract is currently trading around the fractal moving average. However, MME1! is still below its short (25-SMA) and medium (75-SMA) term moving averages. The RSI recently emerged from oversold levels but is still below 50. The KST is approaching a positive crossover. The technical indicators are illustrating that the double bottom is still in a setup mode and can easily fail. Recommendation The recommendation will be to go long at market. At the time of publishing MME1! is trading around 1302. The short- term target price is observed around the 1350 price level, expected resistance of the setup. A stop loss is set at 1288. This produces a risk reward ratio of 3.27.