Downtrend Back Again on IBOVESPA After a nice rally (see related idea), downtrend back again on IBOVESPA Signs: -Hook and crossover on overbought region of StochasticRSI; -MD down closed on RSI (white circles); -Marubozu candle at top of rally, followed by bearish candle indicating exhausted rally; -Price hit a conjunction of imShortby f1l1per.Updated 5
Trying to catch reversal on Brazilian IndexWell, i believe that the dashed green line is a major support. Its a region of plenty RSI's UP MD (historically) and the dailly RSI is reaching the support of up trend. Its also the region of bottom of Wave 4 of the preceding rally. A look at the higher time frames will show that this is in fact a rLongby f1l1per.Updated 225
Wave (2) on IBXL (Brazil 50 Index)At first i thought that wave (2) already had happened, but i changed my counting, and think that it is about to happen on next days or weeks. Three other technical signs agreed with this idea: the divergence of momentum indicators (indicated by purple trend lines), overbought condition on them as weShortby f1l1per.Updated 112
IBXL wave two of a kickoff wave one (Brazillian Index)Until Feb 2016, Bovespa still was on 2008 correction, believe me or not. But i do believe that correction has ended, and in the last days we had a kickoff for a longer uptrend. For now we will have a minor correction, for a wave two. Again, sorry for those who don't care about bovespa. FORA DILMA!Shortby f1l1per.Updated 112