Bovespa Index
The weakening of the Real will likely bring further losses in this index. A strengthening of the Real will continue to bring gains in the Bovespa index.
See correlation in chart below. It's been statistically significant for 16 years, and is ongoing.
See correlation in chart below. It's been statistically significant for 16 years, and is ongoing.
Note
Where I see the Brazilian Real reversing. Note
Monitoring for counter-trend trade. looking to go short. Expecting a break of the black trend line.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.