$EWZ $EWZS $BRZU $BZQ I'm expecting more pain ahead for EWZ, Brazil market etf. No rule that says it's going to drop from here but I will be much more interested in going long if it drops to that lower trend. I'll be patient on this. Blue line is USOIL.
Comment:
daily chart- notice the broadening formation 123456 and then drop below. It's now resistance. It can climb back in and act as support as well:
Comment:
I'm seeing the potential for a bounce here. While it might only be short-term bounce, it looks possible. Notice the trend on the stoch/rsi/wavetrend indicator on bottom of the chart