EWZ is the ETF for Brazil. Sell signal in June 2008 at 80, with a Buy triggered at 38 in April 2009. EWZ has struggled to break above 75 for 9 weeks. A similar setup occurred at the start of 2008, when the Brazil market fell to 60 in 3 weeks, before rising 50% to 90 by May 2008. 5ema (73) < 10ema(72) will be the indicator for the next drop to support at 50ema (60).
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