Brazil ETF (EWZ) Pauses at Possible Long-Term Support and Then Continues Decline

As shown in the daily closing price chart below, Brazil ETF EWZ paused at potential long-term support (dashed blue line) and then continued moving downward.

Lower prices ahead?  We shall see!

click chart to enlarge

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Not Investment Advice | Important Disclaimer: 

The content in this article, including the identification and discussion of any specific security (e.g., bond fund), is NOT meant to be and should NOT be construed and/or used as investment advice. This article is for general information and educational purposes only. Please read the Disclaimers  for junkbondrecycling.com in their entirety. The U.S. Securities and Exchange Commission website has guidance on selecting an investment adviser.

Financial Disclosure:
The author/publisher has no position (long or short) in Brazil Stocks including EWZ at the time this article was written. This position may change depending on future price action.

Base Chart Provided Courtesy of StockCharts.com.  Analysis and Annotation by JunkBond Recycling.com (all rights reserved)