Trendlines forcing it down, plus it's politically unstable

INDEX:BVSP   Brazil Bovespa Index
Second downgrade coming soon, I think.
It respected the previous low (support), so it may bounce back. Risk-averse traders should get out.
I am sure there are some USD etfs but is this in brazil real? Could devaluation push this index higher?
+1 Reply
Ice_ asiansupermarket
Not really. We're about to get a downgrade from credit agencies, that would push us even more below. With a devalued currency we may be able to get some foreign money, but we will be considered "Junk" by international credit agencies after the second downgrade, and funds will be forced to get out of our equities and bond market. So we're facing some downside, more probably.
+1 Reply
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