Business · Markets · 3 hrs ago

Ibovespa rose 8.82% as dollar futures fell 4.64% in a week

Ibovespa rose 8.82% as dollar futures fell 4.64% in a week

Brazil’s Ibovespa rose 8.82% last week, extending its gains for a second consecutive week.

The benchmark set a record high of 209,713 points before closing at 209,066.

It remains above several key moving averages, but its technical indicator reached an overbought level, which can precede a pullback.

The analysis says a move above the record could open the way to higher targets, while declines could bring the index to support levels.

Dollar futures fell 4.64% to 5,013 points, reversing three weeks of gains and nearing the 5,000-point level.

The next levels to watch are support near 5,000 and resistance above 5,046 points; a possible rebound is not yet evidence of a trend reversal.

What people are saying

Rodrigo PazTechnical analyst
The Ibovespa was the main highlight of last week, advancing 8.82% to 209,066 points and completing its second consecutive period of gains.
via InfoMoney
This scenario does not invalidate the uptrend, but increases the possibility of a pullback or correction before new highs.
via InfoMoney
The dollar futures contract ended the week under strong selling pressure.
via InfoMoney

Sources

Related news