Chile (ECH): Bullish potential to 54-56

The iShares MSCI Chile Index Fund ETF (ECH) broke out from a 6-year basing pattern on the late 2025 rally above 35.92. ECH quickly rallied to test and trade beyond the 38.2% retracement of the 2010-2020 decline at 41.55, with additional upside potential to 48.96 (50% retracement), and then into the 54.00-56.38 area (late 2019-late 2025 bottoming pattern target and 61.8% retracement).

Rising 13-, 26-, and 40-week moving averages from 39.26 down to 35.97-34.38 reinforce this bullish backdrop and the 35.92 breakout level on ECH.

Our January 13, 2026, Charted Market Insights flagged a bullish breakout and retest pattern for iShares Latin America 40 ETF (ILF).

We highlighted a breakout from a double bottom for the Global X MSCI Columbia ETF (COLO) in Straight from Chart on Friday, January 16.

Chart 1: iShares MSCI Chile Index Fund ETF (ECH): Weekly chart