EWZ - Brazil was forgotten and will comeback

outbreeak Updated   
AMEX:EWZ   iShares Inc iShares MSCI Brazil ETF
While China, India, Russia and the Middle East have been very noticed, Brazil has been overlooked. With the discussion of the end of the dollar's hegemony, it may be a good time to look at emerging markets. Despite controversial policies, it is a country without problematic neighbors and with many natural resources. The areas and lines on the chart are support or resistance areas, with confluence in the fibonacci retracement and projection. The next few years look promising for EWZ.
If you compare EWZ (Brazil) with EWW (Mexico) you will notice that EWZ is far behind.
Midcaps seems the way to go in Brazil
Lula's administration is nonsense, but Brazil is still cheap
P/E of IBOV is around 7. P/E of IBOV excluding Petrobras (Oil) and Vale (the largest producer of iron ore and nickel in the world) is around 10. My top 3 brazilian stocks are: BEEF3, RANI3 and SOJA3.
TTEN3, KEPL3 and VITT3 are also interesting. Agriculture is my favorite sector in Brazil.

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