EWZ has broken and retested its long-term downtrend

BATS:EWZ   iShares Inc iShares MSCI Brazil ETF
The EWZ (Brazil ETF) has used to be in a downtrend in USD terms since 2008. It has now broken and retested the resistance and looks ready for reaching higher highs. Fundamentally, it is trading at ~7x P/E with a large part of the index and the country economy being possibly fueled by a renewed commodities cycle.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.