Near Term Trend: Neutral / Bearish
As of 12/22/17 close: $39.51
UPDATE: Last week, I suggested staying short with a target of $35.75. Stops were to be honored above $40.29.
The Brazil ETF rose last week, but made no real technical progress. The bearish set-up remains intact.
I would be getting short of EWZ or Brazil proxies on any bounce to $40.18 with stops above $40.25 on a close and a target of $36.