Adam and Eve double bottoms confirmed, we're trading for the gap fill @ 26.5
Will either rocket downward after breaking resistance or rebound here. Fundamentally, this looks to be more negative based on what is happening in the world of currency.
A break under 30.98 would be a new 2 year low. Leverage via $BZQ (2x bear ETF)
$EWZ has triggered short. via $BZQ buy over 57.50
BZQ looking interesting as it seems forming a fallen angel pattern. It crossed above EMA lines with high volume. We think it will go up now & our first target is 20.50 area. You can check our detailed analysis on BZQ in the trading room/ Executive summary link here- www.screencast.com Time Span: 35" Trade Status: Pending
Sell Brazil el ritmo caliente, Bullish setup for BZQ ETF ProShares UltraShort MSCI Brazil Capped BZQ seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the MSCI Brazil 25/50 Index®. Volumes great as never. Initial targeted tp 28+
The Bovespa has been forming a symmetrical downward trend followed by a 1.618 extension of the longer bull trend. You can see this in the chart by the first light blue fib retracement, and then I used a green arrow to indicate where the second retracement line is compared to the green 1.618 retracement line. The second to last move down is a bit tricky as it...