Together with my last chart about the BVSP, this is more of a Swing-Trade leveraged position against this active (BOV11 in IBovespa and BVSP in NYSE), considering the following fundamental key points:
* The main stocks are being hammered, some of them: Petrobras, Vale, Sabesp.
* Brasil fiscal efforts to keep a good spending balance showed some ugly side effects...
I think it'd be a pity to start this year without testing the famous major annual support by BVSP. Although there are some fundamentals involved, always consider this before entering a long-term trend, the government as been changed but we "wont" (we may) see any new relevant changes until march, or april. So until february, it should call for it's bottom at the...
Since D point (W), multiple ABCD witihn ABCD have performed. Last 100% symetry point is 46040 aprox., giving the price a potential point back to retracements (Blue and Green).
So far, the long term Weekly chart indicates maintenance of the short position. Price action is now far from D point (short entry postions) so profits should have been taken along the way and protective stops should be now placed "tight".
Considering both Technical and Fundamental aspects, both the new fiscal policy that benefits investors on the stock market and the technical market setup show us that soon we're going to be calling bottom, expecting a rise back to the 70.000- level after 2015, considering a new record and a new resistance. If the support breaks through before that and the policy...
Brazil Bovespa Index.
Within the Emerging Markets sector, Index has been lagging,
playing catch up, broke out(ratio) vs MSCI ACWI (All Country World Index).
Brakeout from brake_line channel, within uptrend_channel.
Brakeout from 2013 rectangular range Double bottom pattern.
50 cross 200 sma.
Has tagged the 200 sma weekly, from below.
Monthly RSI downtrend_line...
