vlad.adrian
Long

Brazil - Post election long

AMEX:EWZ   ISHARES INC MSCI BRAZIL ETF
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6
173 2
During the weekend, presidential elections concluded with the re-election of Dilma Rousseff. This was perceived as bad news for the BOVESPA, but after gaping strongly on Monday, the Brazilian stock market has been rising strongly.

A double bullish divergence on the MACD histogram on a triple bottom formation, with extreme volume bars and climactic action on the Weis Wave.

I expect this ETF to go at least to 50$.

The daily chart offered almost a perfect buying signal. A daily bullish divergence with a very bullish weekly chart
08.12.2014 closed out
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02.12.2014 Looking at the daily chart, I believe that Brazil is going down. However, I made my trade on the weekly, and I will not close my position until I can see it failing on the weekly
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