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Lanmar

Correction to be continued in the Bovespa (Brazil) index

U.S. Dollar / Brazilian Real (FX_IDC:USDBRL)  
Lanmar Updated   
FX_IDC:USDBRL   U.S. Dollar / Brazilian Real
Chart Patterns IBOV USDBRL BRLUSD bovespa
5
2
chartpattern ibov usdbrl brlusd bovespa
The Brazil index, Bovespa, often trades in tandem with the Brazilian Real. The index is showing signs of weakness. A good hedge is shorting the Brazilian Real. This is because the Brazilian economy is exchange rate sensitive. See image below to see its consistency.

snapshot

If the breakdown in the Bovespa breaks the wedge to the downside beyond the minimum target, I believe it is limited to 74,000. Right into the red box. At that point I will be a major buyer
Expect a major secular bull market in Brazil Bovespa Index
Trade closed: target reached:
Target reached on USD/Brazilian Real
Comment:
The flip may have been confirmed this week..
snapshot
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