The Ibovespa closed the last week positive, after three consecutive weeks of decline. As a result, it registered an increase of 1.12%, to 126,526 points. Throughout the week, there was a lot of volatility in the asset, reaching support at 123,700 points, which drove the index upwards, with emphasis on Friday’s strong rise (+1.51%). The asset has returned to above averages and has potential buyers for this week.
Based on the Ibovespa 60-minute chart, chart analyst Rodrigo Paz observes that the asset has resumed its upward flow and has the potential for continuity. This occurred after reaching support in the range of 123,700 points, where buying force entered, driving the index upwards and with the formation of a double bottom. However, attention should be paid if the asset breaks the average range downwards.
If the asset follows the upward flow, it should overcome the region of 126,720/126,825 points. According to Paz, if it breaks, he will be able to continue with his purchases to seek new resistance bands. Breaking through this region, it tends to seek resistance in the 127,640with a longer target in 129,180/130,000 points.
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If the sales flow resumes, it should break the averages in the region of 126,135/125,265 points. Breaking this range, it may gain momentum in order to seek a support region in the 123,700with a longer target in the region of 123,400/123,000 points.
Day Trade today: Schedule
On today’s agenda, FGV will release the IGP-M for April at 8 am, with an expected increase of 0.03% in the monthly comparison by Bradesco. At 3pm, data on the weekly trade balance will be released. At 5pm, President Lula meets with Fernando Haddad. At 6:30 pm, Roberto Campos Neto gives a talk at the Economic Panel event, promoted by Insper, in São Paulo.
International markets
At 7:40 am, futures in NY were trading higher: Dow, +0.11%; S&P500, +0.17%; and Nasdaq, +0.25%. In Europe, the Stoxx600 operates up 0.31%, and in Asia, the Tokyo stock market rose 0.81% and the Shanghai stock market rose 0.79%.
In the USA, the yield on 10-year bonds is falling, at 4.624%, and the dollar index (DXY) is falling by 0.25%, at 105.67 points.
Meanwhile, WTI oil falls to US$83.61, with -0.29%, and Brent oil falls 0.63%, to US$88.94.
Iron ore traded on the Dalian exchange fell 0.51%, to 874.50 yuan, equivalent to US$120.69.
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Minicontracts
Mini-index contracts (WINM24)due in June, closed the last session positive, after a sequence of lows, registering an increase of 1.68%, at 128,000 points.
Based on last Friday’s closing, at 128,000, technical analyst Rodrigo Paz points out how resistance 128,250/128,510 (1), 128,915/129,000 (2) and 129,770/130,000 (3). Meanwhile, the supports are in 127,785/127,540 (1), 127,235 (2) and 126,740/126,250 (3).
“For today’s trading session (Monday), traders should pay attention to a possible continued purchase of the index. To follow this movement it will be necessary to overcome the region of 128,250/128,510 points. If the asset resumes its sales flow, it should break the range of 127,785/127,540 points”, points out Paz.
Minidollar contracts (WDOK24)due in May, closed the last session in the negative, registering a drop of 0.77%, at 5,125 points.
Thus, based on last Friday’s closing, at 5,125 points, technical analyst Rodrigo Paz points out as supports 5,110/5,104 (1), 5,086.5 (2) and 5,072.5 (3). Meanwhile, resistance is in 5,132 (1), 5,145/5,159 (2) and 5,174 (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 5,110/5,104 point range. However, it is worth paying attention, as the asset trades above the averages and may seek a buyer recovery.
Support and resistance
Check now the main points of support and resistance for the dollar and index mini contracts for this Monday.
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 at XP.
