The Ibovespa closed the last session negative for the third consecutive day. As a result, it recorded a slight drop of 0.08%, to 124,645 points. The index continues to retreat, and to resume the buying movement it will be necessary to overcome the average region of 124,830 points. However, it is worth paying attention, as it could intensify the downward movement if it breaks the 123,700 point range.
Based on the Ibovespa 60-minute chart, chart analyst Rodrigo Paz observes that the asset has resumed its flow of lows and has the potential for continuity. This occurred after reaching resistance in the range of 126,080 points, where selling force entered, driving the index downwards. However, attention should be paid if the asset breaks the average range upwards.
If the asset follows the downward flow, it should break the region of 123,700 points. According to Paz, if it breaks, it will be able to continue with sales to seek new support bands. Breaking through this region, it tends to seek support in 123,400/123,000with a longer target in 121,630 points.
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If the buyer flow resumes, it should return above the averages, and surpass the 126,080 points. Breaking through this range, you can gain momentum in order to look for a region of resistance in the 126,720with a longer target in the region of 127,860/129,180 points.
Day Trade today: Schedule
On today’s agenda, the March consumption deflator (PCE) – the Federal Reserve’s (Fed) favorite inflation indicator, focuses the attention of global markets this Friday (26), at 9:30 am. The LSEG consensus estimates an increase of 0.3% on a monthly basis and 2.6% on an annual basis.
Here, inflation measured by IPCA-15 is also highlighted, at 9 am. The LSEG consensus predicts a monthly increase of 0.29% and 2.6% on an annual basis. Before that, at 8 am, industrial confidence for April will be released. The president of the Central Bank, Roberto Campos Neto, gives a lecture at 9 am at the Scenario and Perspectives for Brazil event, promoted by the Young Presidents’ Organization (YPO), in São Paulo.
International markets
At 7:40 am, futures in NY were trading higher: Dow, +0.10%; S&P500, +0.71%; and Nasdaq, +1.01%. In Europe, the Stoxx600 operates up 0.59%, and in Asia, the Tokyo stock market rose 0.81% and the Shanghai stock market rose 1.17%.
In the USA, the yield on 10-year bonds is falling, at 4.692%, and the dollar index (DXY) is rising by 0.09%, at 105.69 points.
Meanwhile, WTI oil rose to US$83.97, +0.48%, and Brent oil rose 0.43%, to US$89.39.
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Iron ore traded on the Dalian exchange rose 0.06%, to 884.50 yuan, equivalent to US$122.05.
Minicontracts
Mini-index contracts (WINM24)maturing in June, closed the last session in the negative, for the third consecutive day, registering a drop of 0.26%, at 125,890 points.
Based on the previous day’s closing, at 125,890, technical analyst Rodrigo Paz points out how resistance 126,165/126,480 (1), 127,235/127,435 (2) and 127,655 (3). Meanwhile, the supports are in 125,655 (1), 125,350/125,000 (2) and 124,450 (3).
“For today’s trading session (Friday), traders should pay attention to a possible continued selling of the index. To follow this movement it will be necessary to break the region of 125,655 points. If the asset resumes the flow of purchases, it should surpass the range of 126,165/126,480 points”, points out Paz.
Minidollar contracts (WDOK24)due in May, closed the last session positive, registering an increase of 0.16%, at 5,165 points.
Thus, based on the previous day’s closing, at 5,165 points, technical analyst Rodrigo Paz points out the support 5,156/5,145 (1), 5,122/5,111 (2) and 5,104 (3). Meanwhile, resistance is in 5,174/5,180 (1), 5,196 (2) and 5,222 (3).
Based on the 15-minute chart, it is possible to notice that the mini-dollar contract is trading in a downtrend and could continue the declines. To do this, it will be necessary to break the range of 5,156/5,145 points. However, it is worth paying attention, as the asset trades between the averages and may continue a bullish recovery.
Support and resistance
Check now the main points of support and resistance for the dollar and index mini contracts for this Friday.
Check out more content about technical analysis on IM Trader. Daily, infomoney publishes what to expect from dollar and index mini contracts. The best platforms to operate on the Stock Exchange. Open an account with XP.
