Brazil’s real is poised to drop to the weakest level in 10 months after buyers of the currency diminished and a momentum indicator signaled declines, according to Invesco Ltd.’s Avi Hooper. The currency’s weekly TD Sequential indicator suggests an almost yearlong rally against the dollar ended in October, while the moving average convergence/divergence, or MACD, chart shows the real is likely to weaken, Hooper said in an interview. A close above the currency’s 55-week moving average tomorrow would signal a move to the 200-week moving average of about 1.939 per dollar, or 5.7 percent weaker than yesterday’s level of 1.828, according to Hooper.
CNBC
Mad Money with Jim Cramer and the DeMARK Indicators 7-6-22
“Mad Money” host Jim Cramer discusses chart analysis with the DeMARK Indicators.
Jul 6, 2022
