IPC MEX Bearish pressureAfter the pullback with bearish convergence has confirmed the pressure for potential levels down to 37,000 and 33,000.
ME trade ideas
IPC indice de México en pesos, la corrección aun no termina.La corrección actual del IPC de la bolsa Mexicana todavía tiene mayor potencial. Comparando la baja de 2008 donde vemos un comportamiento muy similar podemos observar que hizo un doble piso en el 2.618 de Fibonacci. Si esta corrección sigue el mismo patrón tenemos un potencial de baja hasta niveles de 39,000. En la gráfica podemos observar la similitud en los niveles de RSI y el MACD y el momento de la corrección en el que nos encontramos.
Si les es de ayuda la información por favor den like y compartan.
Rebound IPCThis might be set for a rebound but trend has been down for a little more than a year, so I would not expect much. If this gets back above the blue doted trend line, it would be back into the longer term up trend.
Then it would be back in the middle term triangle and again wait for a break out either way. This only if above blue dotted line.
The day after -IPCJust adding a little more information to the chart "Nothing is forever" that is still open and serves as a perfect reference.
Nothing is foreverThis is a difficult one, so I'll take it carefully. Since 2010 they started a very stable uptrend however it seems to me that this trend is about to end.
I take it with caution and one step at a time using the most conservative levels but I would not have any problem shortening it to the area of 41000.
In Mexico there are elections this year however I do not think it has a direct relationship as the upward trend started in 2010 ... it can not last forever.
IPC updateAs we can see in the structure every down movement has been fast and every upward movement has been slow so i am expecting a fast downward movement soon when fifth wave is completed. I beleive it will come down because the current upward movement seems to be a flat structure 3-3-5 meaning that is only an x in the complete w-x-y-x-z pattern. After the last movement down (z) im expecting a new 5 wave movement upward that will break the historical top. To confirm this we need to see divergence at the end of the fifth movement of the flat that is going on right now againts the MACD.
Mexico IPC movement prediction for trump's entranceWe can see a triangle which is a continuation form so im expecting more down and then a retest of the resistance to see if this has been a 2 wave and expect a 3 or its the end the 5 moves to start the 3 wave correction.
MXX, D On the basis of a Elliott Wave count analysis (following the premises), the Mexican index forecast of the Mexican stock exchange will have a continuation of trend in the long run, confirmed by the corrective pattern of the triangle, could be the continuation Wave 3 in a super count and the triangle a zigzag corrective pattern, possibly reaching 48,000.00 points in wave 1
IPC mexicoThe INDEX:MXX are in the accumulation zone at the weekly graph, and at daily and weekly graph are close to the end of an uptrend cycle. No more than 45900. this is a nice opportunity to go short or go out for few weeks.
Ideas, comments, corrections.
They are always welcome.
Matter of time... Mexican Bolsa IPCbubble ? We think it is a matter of time for them to lower the stock exchanges , and start the panic of a possible bubble or generalized low for some time . So we'll start selling on different index.
-BroTRaders-
Long on the Mexican BolsaThe weekly chart is currently standing at the Wave, with the impulse being blue
On the daily chart, the impulse is green because yesterday we had a sharp move to the upside. Considering the weekly chart, I would say this is a good entry on a ride to the top, at least.
This chart is delayed by one trading day.
