iShares MSCI Brazil Index Fund(EWZ) is in an downtrend

(28-Mar-2008) (28-Mar-2008) iShares MSCI Brazil Index Fund(EWZ) closed at 77.73, down -1.5 or -1.89 % today. Based on our analysis, iShares MSCI Brazil Index Fund(EWZ) is in an downtrend.

The closing price of iShares MSCI Brazil Index Fund(EWZ) is below its 50 day moving average of 78.54 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that iShares MSCI Brazil Index Fund(EWZ) is losing momentum. The loss of momentum in a downtrend confirms that the downtrend is intact. The MACD histogram crossed below the signal line on 6-Mar-2008, about 16 trading days ago.