MERV
🇦🇷 The Merval index experienced significant volatility but closed higher, showing resilience after the removal of currency controls.
📈 Technical analysis suggests the index is likely to continue rising, needing to break the 2.5 million peso level to confirm the uptrend continuation.
💲 The dollar-denominated Merval chart also shows strength, having recovered the 1800 level, with the next resistance seen around 2000.
@marcosemmimfp:
“What happened with the Merval? The Merval was indeed… in fact, the Merval chart today is a bit weird. The Merval was strange. Uh, this candle didn’t close like this; I don’t know why it’s like this. Monday, because this didn’t close like this; it closed around four-something if I remember correctly. And here in… look, see? Here in Ecovalores, it also shows me anything for the daily candle. It’s like everything broke. Ah, but well, this closed almost 4% more or less, 4 or 5 if I remember correctly, around there. They’re going to start with their head and shoulders and those things. Yes. And I don’t know if they don’t need to chat with Chat GPT or take a technical analysis course… What will happen? I think this will continue to rise more. There’s too much volatility and so on, so the positions you can hold, there’s no problem. What you do need is to keep rising. Break the 2.5 million level, basically, so that this does something like this, comes to highs, and that’s it. You break that pullback you’re having and go up. The chart in dollars also presents the same thing, meaning you recovered the 1800 level again. That’s something very important. Okay. Uh, therefore, the resistance zone would be here at… at the 2000 level here, sorry, but there was a lot of… ah, there was a lot of volatility there.”
Watch the exact part of the video where @marcosemmimfp talks about Merval Index here:
Watch the video on YouTube
Read more articles analyzing Merval Index (MERV) at the following link. MERV stock.
