Brazil struggling

A look at the EWZ chart :

  • Clear 79-ish resistance level
  • The stock went below the 50d MA in november, but managed to get above again
  • it struggles to keep to the LT uptrend
  • Should we worry about Brazil ? : read the following article
    The data in Brazil are troubling: Late payments on credit cards and other consumer loans jumped 23 percent in November from a year earlier, prompting government leaders to begin scaling back their easy-credit policies”
  • I prefer to stay out for the moment, waiting for a break of the 79 level

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