SPOTLIGHT BRAZIL: Vale S.A. (NYSE – US$) – BOVESPA Index (Brazil)

​VALE S.A. - Last November’s Idealised downside targets towards 3.25 were exceeded with an ultimate low trading to 2.13. WaveTrack's analysis indicates that this equity has the potential for a progressive upside recovery during the next few years. Bovespa Index - There may be reason to be more optimistic though for Vale S.A. Downside targets forecast over three years ago for Brazil’s Bovespa Index have been touched to exact levels, both in local REAL currency terms and when converted into...