sobata416
Short

$EWZ - daily chart

AMEX:EWZ   ISHARES MSCI BRAZIL CAPPED ETF
ewz
55 2 1
ewz
full disclosure: I'm long the Dec19'14 puts @ $50

both the 13 (blue) and 34 (pink) Bollinger Bands have flattened out.

the 50 day MA is rising and the 200 day MA is relatively unchanged since late June.

the daily Williams %R is at -70; this indicates that pressure might turn negative.

based on these observations, $EWZ could see more losses in the near term.

upside levels to watch: $51.85, $55.51

downside levels to watch: ~$50, $48.37, $46. 44            
and now? What do you think will happen on EWZ?
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sobata416 elcololp
if the US dollar continues to strengthen then it's likely that EWZ will weaken.

http://www.zerohedge.com/news/2014-02-05/triffins-dilemma-2014-edition
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