Let's have a look at the chart of the Brazil market index:
1) The index crossed the 200 days simple moving average on Thursday 9 April : this is a sign that long-term investors are watching before entering into a market (see yellow tag on the chart);
2) Major resistance (green line) was crossed to the upside a few days ago;
3) Index made consecutive higher lows since November 2008.
Do I buy Brazil? mmmhhh ... not yet. Waiting to see whether it's a fake move or not. I'll keep you posted when I enter into a trade.
How to buy Brazil? there are several ETF's out there such as the iShares MSCI Brazil Index Fund ETF (ticker: EWZ) listed on the New York Stock Exchange.
No comments:
Post a Comment