Brazil's Bravado Is About To Break
Tim Knight | Nov 09, 2017 01:40PM ET
Starting in early 2016, the Brazil ETF EWZ roared almost 200% higher based on what? I’m not sure, but Brazil's stock market went insane, beating down anyone foolish enough to be in its path.
My view is that this surge is on the cusp of failure. Here is the broad chart.
What I’m watching in particular is that sharply ascending blue trendline. Break that, which wouldn’t take much, and Brazil is toast.
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