$EWZ - SAFE HAVEN POTENTIAL -
Added 2023-12-02 12:56:55 +0000 UTC$EWZ is similar to $INDA but represents the Brazilian index.
The Brazilian index has been declining since 2008, where as the US market has been climbing since 2008.
So both economies are in opposite cycles now....which is a good thing.
Money doesn't disappear, it just rotates into difference sources.
$EWZ is also testing its trend line from 2010, which has not been broken before.
A break above $35 and we can be seeing the start of a reversal confirmation, the price would need to hold above this line then.
This would also be a very attractive store of capital if this happens and if the US economy takes a turn.
I will monitor both this and $INDA to see how they develop and keep you all updated.
Comments
@stocktalkweekly is very bullish on $INDA I bought a little of it this week and will buy on pullbacks. Definitely worth keeping up with Brazil’s bottom!
iTurp
2023-12-03 20:48:35 +0000 UTC
