Forex Trend Analysis Report
Prepared for you on Saturday, December 2, 2023.
Brazilian Real/Venezuelan Sovereign Bolivar (FOREX:BRLVES)
Bull Market Weakness (+75) - BRLVES is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on BRLVES as it may be in the beginning stages of a reversal.
Is it time to buy, sell, or avoid BRLVES?
MarketClub looks at technical strength and momentum to determine if the timing is right for BRLVES.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for BRLVES
The long-term trend has been UP since May 4th, 2023 at 5.0084
The intermediate-term trend has been UP since Oct 16th, 2023 at 6.9181
The short-term trend has been DOWN since Nov 30th, 2023 at 7.2063
Smart Scan Analysis for BRLVES
Based on our trend formula, BRLVES is rated as a +75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).