#Brazil #Bovespa turning back to strength after recent pullback? Resistance at highs around 77000 then if can hold & break 81000's?! Feels like a lot of hard work to me! Support if reverses down around 69000 area?
Consolidation triangle forming, confirm a breakout or reversal with increased volume and by watching price trend for up to a few days, depending on how quickly the reversal or breakout takes place. EWZ is at a point of upper resistance, see previous highs several months ago.
Ewz has broken out of its 40-resistance range. First target is apprx 53.75.
Buy VLID3 upon confirmation of bullish pivot following double bottom.
$PBR está perdiendo un poco de fuerza al alza y empieza a mostrar signos de debilidad al no poder superar los 8.78. Antes de continuar con las subas, es posible que se tome un descanso retrocediendo hacia 2 niveles de soporte claves: 8.23 y 8.04. Para ello, antes debemos esperar la pérdida de la zona de 8.71 para confirmar la debilidad. Ésta situación se anula...
High conviction buy on text-book bullish island reversal with significant trading volume increase and bounce off lower band of upward parallel price channel, also with significant volume. The pattern emerge as the company announced the sale of one of its assets (the Portonave port for 1,3B BRL), significantly deleveraging the balance sheet as part of an asset...
Short EWZ on touch of long term resistance line and apparent continuation of long term bear market. However, if current correction leads to an additional wave up and breakout from the trend, the trade will be stopped and there are high chances of reversal towards long term bull market.
I think this can be the bottom of the recent pullback in the Brazilian Real. I'm long $BRL as an oil proxy here, shorting $USDBRL with a tight stop at 3.3415. The political crisis might be averted, and the currency can soar, specially with the extreme negative sentiment currently affecting it. Best of luck to our brazilian friends, and to anyone taking the...
PT1: 34.50 PT2: 44.50 PT3: 54.80 In @ 16. Add @ 24.10. Sell Zone: 99.10 Long bias on Brazil.
Fibonacci levels are the targets. Happy trading!
Possible short position on USD BRL, waiting for breakout. There are a lot of important decisions in the next weeks around social security (retirement reform) and curruption judgements.
Waiting for breakout, posible short position. There are a lot of decisions on brazilian congress in the next weeks around social security (retirement reform) and curruption decisions.
.... doubt it will happen this year. last year we had three severe frost scare days/weekend. IMHO this market is where it is merely because of cautious buyers ahead of the season. I see rangebound through July and if no frost happens more downward potential. Technically speaking, the bull market appears to be over.
Signs of a pretty consistent price channel since 2015. Price dropped below channel during 2015, but generally channel holds true. Seems BU is dying out without genuine support from minors and clearly very little support from the economic majority, i.e. general nodes, exchanges and commercial nodes. Expecting resistance just about or around 4k within the month...
Prepare for more weakness in the Brazilian stock market
Looking for the breakout of this triangle consolidation and a C leg for this flag formation
Long-term fundamental is bearish . US has big soybeans 0.23% stocks , export is falling. Harvest in Brazil and potentially big crop in South America adds bearish sentiment. Weekly chart shows rejection of VAH, price moves down inside balance, so I'm waiting the continuation of price falling.