LYXOR ETF IBOVESPA: A geographic ETF with an evocative mnemo code

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The News Bulletin 247 team offers a bullish stock market scenario for a country with immense potential, Brazil, excellently positioned in the agricultural raw materials, metals, oil and banking sectors. Sectors that can perform well in current market conditions, marked by the good performance of the prices of minerals, oil, agricultural commodities, and in a favorable context for bond yields.

The financial tool that will allow you to invest in this country-continent is the evocative mnemonic code tracker “RIO”. An ETF-type financial product that reflects the BOVESPA spot market, iBOVESPA, the benchmark index of the São Paulo Stock Exchange, the financial capital of South America.

Under these conditions, we will bet, through the acquisition of this tracker (ETF), on purchasing inclinations on the global raw materials market (in particular sugar, soya, orange), as well as on a continued rise in prices. oil, a sector in which Brazil is structurally a major player at the global level, particularly in offshore drilling, an expertise only available to a handful of powers on the planet.

KEY GRAPHIC ELEMENTS

Since its annual low points on March 24, the index has returned to an upward trend in the sense of Dow, namely a series of increasing low points, like high points. The bullish runaway sessions of April 11 and May 5 were accompanied by thick volumes. It is currently in the phase of exiting the range from the top

Note that it is useless to look for gaps on the index – it does not include any – by methodology, each session opens exactly on the closing level of the previous one.

FORECAST

In view of the graphic elements mentioned, the News Bulletin 247 team suggests that active investors take a purchasing position on the LYXOR ETF IBOVESPA tracker, at the current price, with €26,0000 in their sights. A protective stop must be placed at €19,0000.

DAILY DATA CHART