From a technical view, the ETF has broken above a declining trend line which has been in place since May 2013. Regarding technical indicators, the daily RSI is posting a bullish divergence while the daily MACD is pushing above its signal line (first time since May 2013) providing another bullish argument. On a relative basis against the IVV S&P500, the iShares MSCI Brazil Index Fund is way oversold and a corrective recovery should happen in the short term.
Trading strategy: Buy at $42.93 - Stop loss at $40.50 - Target at $48