The corrective high might be set
along with cycles analysis
EWZ is in the resistance zone
The upward correction probably won't shoot much higher
The corrective moves we’ve been tracking in some international stock ETFs appear to be nearing their end. Both the Italy ETF and the Brazil ETF are following the plan and may soon provide...
At the start of 2018, EWI ended wave [e] of a triangle and dropped in the first five wave impulse lower at the end of last year. Since then, EWI has been bouncing in a three wave move for a wave (ii). While having tested a possible target at 28.83 two weeks ago, it strikes me as too aggressive to say that wave 'c of (ii)' is complete while above 30.00 as the overhead target tested so far is a bit short of what is typical for a wave (ii).
Treating this overlapping bounce in EWZ up from the low last year as a 'b' wave and expect prices to turn down again in an impulse over the next few weeks.
Is it time for the reversal?
What comes next after that 3-wave move?
Time for bears to manage positions