BRIC countries : turning down from resistances
​All BRIC indices have turned down from resistances recently. Dollar strength and rising US yields are strong headwinds. Technically, those moves take place from what used to be the bottom of a 3.5-year range, that has been established as a resistance. Brazil seems particularly vulnerable, but India has to be watched closely. It has been outperforming since Mr. Modi's election, but this movement could be interrupted soon.
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