IBOV mid-term trend continues down - watch the 71,000 resistance

Short

IBovespa Index (BMFBOVESPA:IBOV)

BMFBOVESPA:IBOV IBovespa Index

Trend Analysis Wave Analysis ibovespa brazil Indices

trendanalysis waveanalysis ibovespa brazil indices

IBOV

As long the index keeps below 71,000 points, the main scenario is another leg down to around 60,000 points before moving to a wave B correction up.

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