$EWZ is literally a textbook channel play. Look at this, just admire it for a second. It couldn’t be more defined, more perfect. We’re currently seeing a beautiful rejection off the bottom portion of this massive channel on the daily candlesticks, we can expect to ride this out all the way until $42.02+ - simple as that. The RSI is almost oversold at 35.25, which means we have the room we need for some upside movements. Buying volume is increasing, and the candlesticks are at the bottom of the Bollinger bands. The last few days, they finally closed within the lines, which could indicate a change in momentum towards the upside. If it changes direction and closes below the channel’s previous low of $33.90, I’ll be going for a short position. But if it closes above $34.80 like we’re expecting, we have nothing but tendies at the end of this rainbow. Close <$33.90 -> Sell | Close >$34.80 -> Buy