MEXICAN BOLSA TECHNICAL ANALYSIS- MARCH, 28, 2016

IPC Index. March, 28, 2016

Mexican IPC index has reached the top of the consolidation that started in June 2012 and it stands close to the 46,525 historic high. In our last comment we said that we would look for a clear sell signal around current levels.

On Friday 18th a pin bar formed rejecting the 45,602 level, as a result we see as attractive to open a short position at market price with a stop loss just over the 47,000 psychological level with a first price target of 42,716 for a 2:1 reward to risk trade.

IPC Index.

20160328-IPC

Analyst: Victor Campos, CFA.

Source: LATAMPM with Tradingview.com data. Prices as of March, 28, 2016.

 

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