Near Term Trend: Neutral / Bearish
As of 12/15/17 close: 38.76
UPDATE: Last week, I suggested staying short with a target of $36. Stops were to be honored above $40.95.
The Brazil ETF is still setting up for more downside action despite a flat week last week. Im still seeing $35.75 at least and $34.28 in all likelihood.
I would be shorting EWZ on any bounce to near $40 with stops on any daily close above $40.29 and with a target of $35.75.