311 9 5

Locally due to for a rebound.

Everything seems bullish too - BUY - Simple here.
EWZ is part of EEM? carries how much %?
Hi, Yacine. I'm from Brazil. I totally agree with you. In addition to this chart, there are others that are also preparing to start a medium/long term movement. The problem is that investors (in general) in Brazil are too scared to react.
YaKa AndreLuiz66
Andre - thx.
investors dont buy bottoms... they wait for the move to be in place and rational to emerge.
It seems we are onto something here... there could be a decent move up.. I am not sure it is the final bottom and Bubowavetrader could be right on his chart.
YaKa AndreLuiz66
Andre, do you know what is the composition of the index that makes it much lower than the Bovespa itself?
Hi, Yacine.

I don't know if it is the composition that is causing this difference, because the main companies are in both indices.

I think this distortion is caused because your chart (EWZ) is in Dollar, while Ibovespa is in Real (Brazilian currency). So, if you dollarize Ibovespa chart (Ibovespa/Dollar) and compare with EWZ, you will see that they are very similar.

In other words, the Ibovespa index has inflation that distorts a little the chart in a medium/long term.

Have a look at this chart: BVSP/USDBRL



Ps: The right name for the Brazilian index is "ibovespa" (with "i"). But Tradingview put "bovespa"... I don't why... "Bovespa" is the name of the exchange. : )
AndreLuiz66 AndreLuiz66
Ps. 2: Sorry if you find some mistakes in English.. : )
YaKa AndreLuiz66
Yes you are right, it must be the currency... did not know in which currencies the indices were denominated. Thank you. Your english is as good as mine. no worries.
Volume spike up! another bullish divergence on this will be formidable long
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