Kimble Charting Solutions Blog

Should Brazil be on the shopping list?

Posted by Chris Kimble on 08/17/2010 at 5:04 pm; This entry is filed under Brazil, Emerging Markets, Uncategorized.
Tags: brazil

Brazil ETF has created a quality falling channel…it remains 10% lower from December of 2009 and over 30% from its 2008 highs.

Currently it is at the top of the falling channel, up against stiff resistance, after breaking from a rising wedge.  From a Power of the Pattern  game plan, the play right now is…

Remain in cash and establish a buy order on an upside breakout of line(1).

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One Comments

1. tslater August 25th, 2010 at 2:36 pm

   ProShares Ultrashort BZQ would be a good defensive play for EWZ which has been breaking downward.

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