Mexican Bolsa Technical Analysis- March, 14, 2016

IPC Index. March, 14, 2016

Since our last comment, the IPC Index has moved higher backed by the recent risk on sentiment. After rallying to 45,270 it retraced back to find support just above the 200-day moving average as past resistance became new support.

We believe the IPC Index will consolidate around last Friday´s close waiting for the FOMC statement on Wednesday. After the announcement we will be looking to be sellers between 46,075 and 45,539 supply zone waiting for a clear sell signal.  

IPC Index.

ipc 140316

Analyst: Victor Campos, CFA.

Source: LATAMPM with Tradingview.com data. Prices as of March, 11, 2016.

 

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