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Forecast for Q3'16 - levels for Bovespa Index

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Sergey Golubev
Moderator
96804
Sergey Golubev  

Bovespa Index - Long-Term Forecast: monthly breakout for the long-term bullish

Monthly price is located inside Ichimoku cloud for the breakout with the bullish reversal to be started on open monthly bar for now:

  • Chinkou Span line crossed the price to above for the possible breakout to be started;
  • the price is breaking 55,820 resistance level to above for the breakout to be continuing and with 'reversal' Senkou Span at 58,750 to be tested for the monthly bullish reversal;
  • ascending triangle pattern was formed by the price to be crossed to above for the uptrend to be continuing.

Absolute Strength indicator is estimating the long-term bullish trend in the near future.

  • If the price will break 58,750 resistance level so the reversal of the price movement from the ranging bearish to the primary bullish market condition will be started.
  • If price will break 51,325 support so the primary bearish trend will be resumed.
  • If not so the price will be ranging inside Ichimoku cloud for direction.
Resistance
Support
55,82051,325
58,75037,245


SUMMARY : breakout

TREND : possible bullish reversal
Sergey Golubev
Moderator
96804
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Something Interesting

Sergey Golubev, 2016.08.29 19:13

This is interesting indicator which can be very usefull for the technical analysis for example.

Percentage - indicator for MetaTrader 4

This is Brent Crude Oil (as we see - the oil price was increased by 13.86% for this month):


Bovespa Index was increased by 3.79% in a month and by 1.96% for the week:


FTSE 100 index :


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