Don't Ignore This Chart!

A flag breakout for the Bovespa

The Brazilian Bovespa Index ($BVSP) is one of the best performing markets since late May. After surging in July, the index formed a large falling flag in August and broke above flag resistance the last few days. This calls for a continuation of the uptrend with the April high marking next resistance.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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