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hlaramelo35406

EWZ has broken and retested its long-term downtrend

Long
iShares Inc iShares MSCI Brazil ETF (BATS:EWZ)  
hlaramelo35406  
BATS:EWZ   iShares Inc iShares MSCI Brazil ETF
Trend Analysis Chart Patterns
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trendanalysis chartpattern
The EWZ (Brazil ETF) has used to be in a downtrend in USD terms since 2008. It has now broken and retested the resistance and looks ready for reaching higher highs. Fundamentally, it is trading at ~7x P/E with a large part of the index and the country economy being possibly fueled by a renewed commodities cycle.
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