Head and Shoulders Pattern on Brazilian Real = Tailwind

4 janv. 2019

EWZ is a derivative of the Brazilian stock market ( IBOV ) and the USD/BRL relationship. There is a clear head and shoulders pattern developing in the Brazilian Real. The drop in the Real should provide a tailwind for Brazilian stocks. On top of that, the IBOV just broke out above 90,000. I see continued upside in EWZ and BRZU as a result. This can be seen in the clear bullish channel in the EWZ chart

4 janv. 2019

Note

4 janv. 2019

Note