In one week, the Merval index will be in a weekly downtrend, as long as the close is below 15561. Rgmov had fired a short signal 4 weeks ago, and this rally is a good opportunity for Argentinian investors to either unload longs, or even go short the index.
Good luck!
Ivan Labrie
Link to Tim West's chatroom: www.tradingview.com
We discuss setups like this...
The big fall after the presidential elections , Merval is testing 9.300. Channel with a Bullish trend looking for a new max. Argentina's economy is trying to grow up with international capitals, with many free market deals. The expectation for the econmy are so bullish because Argentina won big a victory to end 15 years in default .
This is my current forecast for the Merval index. I'm looking at a new leg down, to retest the Vix spike retracement support level cluster below.
I propose a wide stop long off the level below, but we could also take a short term short as depicted on chart and unwind and flip long.
You can check my previous forecast in the related ideas below.
I'm republishing...
90 degree uptrend line, marvelous!
I thought this country is still default right?
P.S. Dear Argentinian trader out there, i do not mean to offend, just ridicule by the parabolic ballistic price movement
In my previous analysis I was under the assumption that global equities were about to take a major turn south, but it got invalidated when the downtrend signal mode was breached, after a very slow trading range formed, where we saw accumulation take place.
There's still potential doom and gloom ahead, but first the Merval has to move higher to test the 3 main...
In this thread I'd like to discuss my current forecast for Argentina's Merval index.
Price expanded range down and crossed below the yearly average last week, after the Government was forced to make speculators use the official dollar rate to valuate their assets in the local market, beause of the decline of foreign reserve currency. Instantly many big speculators...
