Great accumulation zone for brazilian Ibovespa. RSI below 2.00.
Since the Coronavirus Pandemic, IBOVESPA has been in a rising wedge pattern. There are key spots in the pattern. This ups the chances of IBOVESPA dumping, since the pattern has been there for so long, and it is still in action. We don’t know what will happen. The most probable thing is that it will dump. All we need to do is wait. BMFBOVESPA:IBOV
Brazilian stock market has showed weakness so for moment its sell it
The bearish tendency IBOVESPA was having will probably reverse BMFBOVESPA:IBOV
Brazilian index is weak for moment its neutral position in direction of down
Now sucking up to my country. We have an index doing better than SPY! After we have broken through this lower channel, we come back to the surface. We are practically already activating a bullish pivot, we now need confirmation. Entering the fundamentalist part. Countries from abroad are coming to invest in our Brazil index as our index is doing better than...
During times of heightened volatility in markets, I have observed that markets have a tendency to mean revert to their long-term moving averages (my favourites are the 55 and 200-week moving averages) and I noticed this beautiful set- up on the IBOV weekly chart (Brazilian stock market). Not only did the market test and bounce off the 200 week-moving average twice...
in this chart we look only at EM charts, and notice India and Indonesia are the exceptions as most markets still below 2008 in dollar basis... this is true not only for EM but for the utmost majority of markets in the world. few other exceptions i found are germany, switzerland, korea, japan, denmark & netherlands...
We may be seeing the formation of the most powerful tech analysis figure: the diamond, as a reversion for a downtrend on Ibovespa.
The Economist - Brazil takes off (Nov 14th 2009 edition) The Economist - The betrayal of Brazil (Apr 23rd 2016 edition) The Economist - Brazil’s dismal decade (Jun 5th 2021 edition) If this isn't an indication to get long Brazilian equities, I don't know what is. Never confuse education with intelligence. You can have a Ph.D. and still be an idiot!
flip the level and we are probably bullish (or at least correlation with SPY comes back) bearish case would be another SFP in the daily and if fundamentals get too bad. I don't even trade tradfi so treat this as a meme
IBOV segue sua tendência do intraday baixista para os próximos dias
Comparing IBOV with: (bearish scenario) -GOLD (bullish scenario, cup pattern) -USDBRL (bullish scenario, cup pattern)
Possible HS pattern formation on weekly chart. Reaching strong support might lead to a pullback to the upside before bearish continuation.
We had a strong reaction on previous reactions point, now I see two possibilities for the BR market. A re-teste for previous support and change to bear market, or strong consolidations between this support-resistance area and back to a bull market.
A strong sell on BR Market driving the price to a range of conflict on different timeframes. Wait for now.
ibovespa , long idea, soon it´s will return to the 120.000 zone Correction is ending .