$EWZ - SAFE HAVEN - WATCHLIST -
Added 2023-12-18 23:44:05 +0000 UTCWe highlighted this chart a couple of weeks ago to bring your attention to a potential Safe Haven for next year, it is an ETF on the Brazilian market.
I highlighted that it was about to test its long trend line that has not been broken since its inception in 2010.
So this is a pivotal moment.
A break and hold above $35 is what we want to see and then our next target is at the 1.618 Fib at $69, this may not happen for another 18-24 months however.
But we can see how fast the indian market is moving, so the Brazilian market may move just as fast.
Comments
Just wondering, why do you see this as a safe heaven? Look at the damage that was done in 2008?
Stijn
2023-12-19 10:09:56 +0000 UTC
