Brazil - Technically Weak

08/05/2008 12:00 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

EWZ, the Brazil ETF, broke its weekly uptrend in early July and still looks vulnerable. Next good support in the $72 area with additional support in the $64 area. The long term uptrend is below $60. First meaningful resistance in the $83-84 area.
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