iShares Brazil Index (ARCA:EWZ) cleared its previous top at 50 with large volume, the ascending triangle pattern (continuation pattern in blue) calls for an extension of the prevailing up trend
Regarding technical indicators:
Daily RSI has broken above a declining trend line
On a relative basis against the IVV S&P500:
iShares MSCI Brazil cleared a resistance trend line and looks set for a rebound.
LAST: $50.65
ENTRY: 50.65 [possible entry area: 50.00 - 51.00]
STOP: 48.40 (-4.44%)
TARGET 1: 52.50 (3.65%)
TARGET 2: 54.15 (6.91%)