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MSCI Brazil Index Fund: Buy At $42.75

Published 01/12/2014, 12:48 AM
Updated 07/09/2023, 06:32 AM

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.
MSCI Brazil Index Fund Chart

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