Below we highlight our unique trading range charts for 22 countries that have trackable ETFs. These charts highlight when prices become overbought or oversold based on the green and red areas. When a price moves into the red zone, it is between 1 and 2 standard deviations above its 50-day moving average. When the price moves above the red zone, it is in extreme overbought territory. Conversely, when the price moves below the green zone, it is in extreme oversold territory.

Most of the countries below are currently in downtrends and in oversold territory. However, Brazil, India, Malaysia and Hong Kong recently tested and held the bottom of their upward trend channel. If you're strictly using technicals, these currently look the best. South Africa is the only country that is currently in overbought territory.

Please click here to view the ETFs that track these countries.

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