MSCI Brazil Index Fund: Buy At $42.75
Trading Central | Jan 12, 2014 12:48AM ET
From a technical view, the ETF is bouncing off a bullish trend line drawn from the bottom of July 2013. Regarding technical indicators, the daily RSI is reversing up from a strong support level while the daily MACD is posting a bullish divergence. On a relative basis against the IVV S&P 500, the iShares MSCI Brazil Index Fund is shaping a falling wedge pattern and looks set for a rebound.
Trading strategy:
Buy at $42.75 - Stop loss at $41.50 - Target at $45.85.
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