EWZ
📉 The EWZ ETF is showing signs of resistance, both in terms of price and its moving average.
📈 Despite this, the minimums remain increasing, suggesting a possible consolidation around 25.5 to 26.
⚠️ The ETF is currently in a downtrend, and investors should be cautious about potential further declines.
@marcosemmimfp:
“The EWZ. This is, here we are, I just started the EWZ. I’m not saying that I have a divergence as such, but I am in resistance zones, both by price and by the moving average, trend lines, a maximum larger than the previous one, and a momentum that does not finish developing. I think that at any moment we are going to have a drop pattern. Yes, the minimums are still increasing, so here at 25 and a half, 26, I think it would be quite good. Let’s see how we are to take a position, but that area would be relatively good, more or less. Anyway, it still doesn’t have the pattern for here, it has the pattern to stay in range or go up a little bit more, because it’s not complete, but we’ve been lateralizing for a few days now, 6 days, 1, 2, 3, 4 days more or less, and the price doesn’t go up. Ah, Brazil already opened today, right? Yes, it opened, great. We’ve been without for a few days, and besides, this is literally in a downtrend, let no one fool you. Yes, how is it, how is NU? NU, NU, NU, NU is relatively sad, huh? It’s in a support zone, and it didn’t manage to make the famous gap.”
Watch the exact part of the YouTube video where @marcosemmimfp talks about iShares MSCI Brazil ETF here:
View the video on YouTube.
Read more articles by the world’s top 100 analysts on iShares MSCI Brazil ETF (EWZ) at the following link. EWZ stock.
