Mexico Stock Market breaks 18 years of support
18YR SUPPORT BREAKS IN MEXICO’S STOCK MARKET
Ishares MSCI Mexico Capped ETF on a monthly perspective has violated an ascending diagonal support line existing since 1998. On the Y-Axis a bulk of the stock is situated in the p-shape distribution >46 with current fair market value at 43 this risks overhead supply unlocking. We used the Fib-Retracement tool from 1998 low to 2013 high for downside projections.
Ishares MSCI Mexico Capped ETF on a monthly perspective has violated an ascending diagonal support line existing since 1998. On the Y-Axis a bulk of the stock is situated in the p-shape distribution >46 with current fair market value at 43 this risks overhead supply unlocking. We used the Fib-Retracement tool from 1998 low to 2013 high for downside projections.