Near Term Trend: Bullish (nearing resistance)
Fridays Close: 37.06 (- 0.78%)
UPDATE: Last week, I suggested shorting EWZ near 36.87 with a target of 20 and with stops on a monthly close above 38.10.
EWZ rallied nicely until Friday when crude turned lower. Staying with this bearish call.
Short between current levels and 38.10 with stops above $38.10 on a monthly close. Try holding until prices reach $18.