Emerging-Markets Stocks' Historic Rally Breaches Barriers: Chart

Are Emerging Markets Stabilizing?

Developing-world stocks powered their way through March with 17 gains in 23 trading days to give the MSCI Emerging Markets Index its best month since 2009. Just before the month closed, the benchmark breached two major technical barriers -- its 200-day moving average and the Fibonacci level representing a 38.2 percent recovery from this year’s low to last year’s high. Alas, the index retreated enough on Friday to fall back below the Fibonacci line, so it will have to break through again to get to the next target, the one-year average.

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