Just by chance, the Latin America ETF (ILF) was noted to be doing very well this week as the S&P500 and friends are given a beating. In a bigger picture perspective, a descending triangle has been formed in the last 12 years. While the upside to resistance may be smaller than previously, it is also projected that IF and WHEN there is a breakout, Latin America would do a multiyear climb to 2.5X of what it is today.
Technicals are just turning around, including a very bullish weekly candlestick last week, with MACD turning bullish.
Overly optimistic or an amazing opportunity? I am not well versed in emerging markets, particularly Latin America. Do share your thoughts...
I would say that there is a lot too this. View it from a macro perspective. Since countries in the east are taking too long too send exports do to covid lockdowns/war/hoarding of supply etc etc. Vertical panamerica contracts and treaties are about to be a heck of a lot more friendly. The fact that the US is willing to do business with Venezuela for oil should tell you everything. Timing is indeed hard and corruption amongst countries is still a risk. However, leave America out of the equation for a sec and you have Europe scrambling to find new trade partners for energy, food and other precious metals. ILF lines up well this. Great work on the pattern recognition too.