Bovespa

The Brazilian Bovespa Index encountered strong resistance at 58000, the spike in volume [R] warning of selling pressure. Breach of the rising trendline would warn that the rally is fading and another test of support at 48000 is likely. Failure of support would offer a target of 38000*.

Brazil Bovespa Index

* Target calculation: 48 – ( 58 – 48 ) = 38