Tuesday, April 1, 2014

Emergening Markets Latin America

Colombia (GXG) It is moving sideways.Until it breaks the red line we are leaning bearish.

Brazil (EWZ) is in a downtrend.Probably in a falling wedge

Chile (ECH) hit the target of the triangle (2011-2013) at 40$ where it probably made a short term bottom. If it manages to stay above EMA 21(weekly) next targets are 49$ and then 53$.

Peru (EPU) is in a triangle formation or in a diamond(both patterns can be continuation or reversal patterns). Around 31$ there is a long term support from 2010.

Mexico (EWW) is in a triangle formation.

Overall nothing is clear yet about Latin America.