IBOV is tracing a minor triangle ABCDE pattern that will culminate with the end of intermediate wave (B). After completing this move IBOV should collapse to new lows below previous wave (A). The triangle pattern is not a reliable pattern to trade, therefore we should wait until wave (B) is complete in order to short the index. FOLLOW SKYLINEPRO TO GET UPDATES.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.