4. Â Mexico – Â Head and Shoulders
Head and Shoulders top pattern confirmed on Mexican ETF (technically not a top in that it appeared at the bottom of a move, so instead you would call it a bearish continuation pattern – same implication though).
The relative performance vs its US equivalent provides strong guidance on direction (down). Strong and clear downtrend, risk of a bounce at some point, but the H&S pattern implied at least a move down to test the $40 mark. Overall technical view: Bearish; bearish entry point triggered after consolidation in a down trend.
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