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IBOVESPA BRAZIL - short-term analysis before market opens today

IBovespa Index (BMFBOVESPA:IBOV)  
SkylinePro  
BMFBOVESPA:IBOV   IBovespa Index
Trend Analysis Wave Analysis IBOV brazil Indices
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trendanalysis waveanalysis ibov brazil indices
IBOV should be tracing a micro wave 2 down in the 15 minutes graph attached. The 0.618 correction retracement can most probably stretch up do 65,000 points before continues its counter trend move into micro wave 3 up. LESS PROBABLE ALTERNATIVE SCENARIO: If IBOV traces down below 62,000 points the odds are that the current scenario is a ABC down and minuette wave 5 should be developing (see the other longer term analysis posted) and it is prudent to get out at this level as prices should go lower.FOLLOW SKYLINEPRO TO GET UPDATES.
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