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BOVA11

Trying to catch reversal on Brazilian IndexWell, i believe that the dashed green line is a major support. Its a region of plenty RSI's UP MD (historically) and the dailly RSI is reaching the support of up trend. Its also the region of bottom of Wave 4 of the preceding rally. A look at the higher time frames will show that this is in fact a region of reversion, specially reversion from downtrends and corrections. There is a little more fall to occur, and i would watch for minor signals of reversion before a entry ( i may add charts of smaller timeframes in comments sessions) if the prices really reach this region. Targets are showed by green arrows (8,9% first and 11,8% then). Give a look at my previous related idea on IBXL (). Technical analysis is a matter of probability, it is not deterministic, i might be wrong, and if i am, i will stand corrected.
BMFBOVESPA:IBXLLong
by f1l1per.
2