Vale S.A. VALE

$VALE have two full days left to reclaim $17.50. If we close another week below it, $15S become more likely in play.

$VALE the biggest moves in a bull market are to the downside. Just sayin. Technical picture is still in tact and do expect new highs in 2023 before the overall market dump.

$VALE need a bounce from here and a close above $17.50. Otherwise, looking like $15S and will travel down to the lower end of the upward channel. The DXY is up temporarily in my opinion bc of tech selling their traps set this week. BOVESPA is taking a breather.

In my opinion none of the factors affecting VALE current rise has changed.

$VALE look at that massive buying end of day. Tomorrow will resume the trend to $20.

$VALE weekly close above $18.30 was a good sign. Follow IBOVESPA and DXY for this stock. The Brazilian stock market is currently seeing massive inflows and the DXY is stagnant and even going lower.

Much more positive macros but these are the big ones to follow.

$VALE here come the buyers…

$VALE take profits tomorrow or by Jan 31. History shows this stock selling off the month of ER then bouncing back.

$VALE closed above first resistance. Would like to close week above $18.30 or hit $20. Either way is good news. Looks like $20 is close to R2 on a monthly timeframe. I am concerned about the MACD, ADX and low volume though.

$VALE going out on a limb here and against all TA…we see $20 this week.

Let’s see…pure speculation bases on a declining USD.

If not, $20 within 2 weeks.