Argentina recovery

in #peso6 years ago (edited)

Despite Argentine peso is facing hard times lately, Argentine stock market continued to rise. If we take a look at Merval (IMV) major index we see that it gained 17.5% this month, and almost tested the ATH. The problem is that we did not break the resistance and bounced back down. I see a very high probability of a down move until 28000-29000 level. So a short-to-mid term buy on USDARS can take place.

Dollar index (DXY) is also earning the ground, maybe need a correction, but looks very bullish.

There is always a plan B, in case of Merval's breakup so we'll see a more strong peso, but it's a low probability chance for the moment.

This is not a recommendation but a vision of mine.

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