Brazil, China and India

BRAZIL

Brazil 67570 (BVSP) found bids at 64000 on Thursday 10 Feb with long term support in 57500-60000. Last week I was  looking for a bounce up to 67500 before the next leg down to 60000. ETF for Brazil EWZ 74 has resistance at 80 with support at 60. A close above 10ema at 73 changed the signal to BUY on Tuesday 15 Feb

CHINA

China 2924 (SSEC) found support at 2750 on 11 Feb. Look for a bounce up to 2950. If 2950 acts as resistance, then the the next leg down to 2600 is the target, last seen in Sep and Oct 2010. A close above 2950 target a retest of 3150 high last seen in Nov 2010. ETF for China FXI 42 has resistance at 43 with support at 37. Only a close above 20ema at 43 will change the SELL signal

Hong Kong 23156 (HSI) found support at 22500 on 14 Feb. Look for a bounce up to 23500 before the next leg down to 20500

INDIA

India 18300 (BSE) has long term support in 16000. Last week I was looking a bounce up to 18500 before the next leg down to 16000. ETF for India INP 65 has resistance at 82 with support at 60. A close above 10ema at 66 on Tuesday 15 Feb changed the signal to BUY