Considering the current bearish momentum in LatAm equities and the recent break below the 35.50 support, there's a 65% chance $EWZ retests the 34.50 area by close of next week, especially with general market risk-off sentiment.
That's an interesting call. While the bearish momentum is clear, I wonder if the recent bounce in commodities could provide some unexpected support for LatAm equities, potentially slowing that retest.
65% chance sounds rather precise for something based on "bearish momentum" and "risk-off sentiment." Are there specific indicators backing that probability, or is it more of a gut feeling after the support break?
65% is a pretty specific probability for something so volatile. What's your basis for that number beyond the general market sentiment? EWZ has bounced from lower before.