Ibovespa today: Fall must stop before at 105,000 points, or the Christmas rally is over

On the monitor: analysts draw a clear boundary between a one-off drop and a trend that could sour Christmas (Image: Reuters/Rahel Patrasso)

This short Christmas week starts with a negative bias in the main stock exchanges around the world. Investors feel the pressure of the increase in cases of the variant omicron Covid-19, and fears of a return to harsher measures of social isolation spread to other markets.

It is the case of the Petroleum, whose price drops sharply this Monday (20), below US$ 70 per barrel, due to the concern that omicron will reduce urban mobility and, by default, fuel consumption.

To make matters worse, doubts are beginning to emerge about the viability of the trillion-dollar economic stimulus package approved by the US president, Joe Biden, last week.

Down

Either climate pollutes or Ibovespa future, which operates with a sharp drop this morning. Contracts maturing in February retreated 1.15% at around 9:58 am, and were traded at 107,215 points.

For graphic analysts, the downward trend points to short-term resistance, established between 106,000 and 105,000 points. If it loses this floor, the Ibovespa may deepen its fall to around 100,000 points – or even less. With that, investors could forget about the year-end rally.

See what graphic analysts at Ágora, Banco Safra, Genial and XP Investimentos say about the Ibovespa today.

Institution 1st Support Potential remains * 2nd Support Potential remains *
Agora 106.000 -1,12% 102.000 -4,85%
Harvest Bank 100.800 -5,97% 99.400 -7,28%
Genial 105.890 -1,22% 100.075 -6,64%
XP 105.000 -2,05% 100.000 -6,72%
Average 104.423 -2,59% 100.369 -6,37%
*about 17/Dec

Disclaimer

THE Money Times it publishes articles of a journalistic nature, which aim at the democratization of information. Our publications must be understood as announcing and disseminating bulletins and not as an investment recommendation.

Source From: Moneytimes

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