Struggling to go higher in response to external temporary optimism.
But sooner than later, Ibovespa listed companies with a big dependency on China purchases (Iron Ore, Soybeans and poultry meat,) will weight on the index upside potential. Oil prices staying steady around recent levels will also weight on Petrobras upside potential. Dollar / Real rate, looking also steady after leaving behind seemly historical lows should also feed future inflation, making banks performances less profitable than last couple of years, with their risk exposure more questionable.
65.000 should become a tough barrier to be broken.
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DESK
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