Bovespa Symmetrical Downtrend Moves Back to a 1.618 Extension.The Bovespa has been forming a symmetrical downward trend followed by a 1.618 extension of the longer bull trend. You can see this in the chart by the first light blue fib retracement, and then I used a green arrow to indicate where the second retracement line is compared to the green 1.618 retracement line. The second to last move down is a bit tricky as it extended further than the previous downward moves (indicated by the dashed blue trend lines) and did not fully retrace back to its 1.618 extension of the larger trend. Instead it only retraced back to the .786 fib line and again made a downward move extremely similar to past downward moves (again indicated by the dashed blue lines.) It may be forming a double bottom, especially if it finishes out its symmetrical downward trend line, which is about where it’s at. If this is the case, expect a move again back to its 1.618 retracement. This mark is also important as it overlaps the much larger downward trend that started back in November of 2015. These retracement lines overlap almost perfectly and is indicates strong resistance. Target Price: is 55975-56007 by early to mid-June. I would actually rate this quite conservative as the upward extensions seem to happen in a 5-ish day time cycle sometimes followed by a week of slowly moving bullish trends indicating indecision. Make sure to give it time to play out its double bottom which Should be slightly higher than its first bottom of 49907.77 and be sure to use a smaller time frame chart for your entry. To play this index I may use a leveraged ETF like BRZU. Please Like and share and follow for future symmetrical and perhaps non symmetrical analysis. Thanks! Longby KyleKeb0
IbovespaTrend changing? Look for 48K, then for 47K supports. Brazil´s fundamentals are critic just now. Major firms are overpriced. There are some of them that are cheap, but it is a hard mining job. Technical surprises loom over their heads. Volatility is very high.Shortby Aguilamora1
Bovespa Index The weakening of the Real will likely bring further losses in this index. A strengthening of the Real will continue to bring gains in the Bovespa index. See correlation in chart below. It's been statistically significant for 16 years, and is ongoing. Shortby LanmarUpdated 3
long for 2016 on BVSP (Bovespa)Well, a lot of stuff is going on here on Brazil, Political uncertainty and Economics fundamentals are terrible. The government, for sure, is being a problem more than a solution. But despite that i still believe in a good 2016 from here, based on this analysis and other analysis of major stocks that compose the index.Longby f1l1per.Updated 4
IBOVResistence at 49,175; support at 43,845. Look for politic affairs. Once the impasse is broken the market will trend up. Wait for 3 months and monitor the IBOVESPA trend.by Aguilamora1
Gartley into cypher on IbovespaGartley (blue triangles) has completed with profit targets as indicated by the green lines. This could potentially run into a completion of a cypher pattern . Sell the Ibovespa now, and if it reaches there, buy at 40,000.by olly_priceUpdated 2
BVSP BRAZIL MADE IN JANUARY 2016The Brazilian economy Bad in the world news bad for investors , at the moment so just wait a bit till around the end of 2016 - 17 when they hungered out .by allard.vanwielink2
IBOVESPAThis situation is a reflection of the FED decisions about keeping the interest rate and not increase it . Brazil proved to be a good opportunity. What do you think about that? by VitorIglesias1
Brazil - ready to see market prices not seen since 08' Forgot to post. I am shorting the Bovespa index. I expect to see 30,000 soon.Shortby Lanmar1
BVSP all the way downTogether 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 on the economy. * The Brasil's economy plans to grow by 0.3% this year, which basically means a recession. Basically, in the near term there's no way you can be bullish in this scenario until all the changes on the fiscal politics stabilize the economy and produce long-term growth. It may not even begin this year.by Ice_1
The last push below the surfaceI 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 major. Everyone will be shorting it as well, so be aware.Shortby Ice_1
compra ibovespa... ta testando, acho que vai romper59900 bela compra... ultrapassa mediana do bollinger bands e uma resistencia interessante. stop em 58830? Longby MichelVieira_De_Andrade1
Brazil Bovespa Index. DailyBrazil 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 brakeout. Indicated, Overbought RSI. Possible entry on neckline retest(throwback), or holding supports. Resistance Targets : 59376, 61100, 63454 Supports : 55291, 50 sma, Projected Target ( lower propability ) : 68978Longby rv4