Just breaking out of a bull pennant continuation pattern with lots of FUD in the economy. Been inside a parabolic channel for the past year, and will likely test the channel's resistance next at aprox. 50 pesos.
Will Macri's popularity be enough to stay in presidency for another term if this scenario plays out...?
Here's weekly candles. Three last weeks closed on the rise, and the latest shows some nice accumulation. MACD also showing increasing bullish momentum.
This week could be brutal.
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IMF released 10B USD to Argentina plus local agricultural commodity exporters liquidate their dollars... the bull run is temporarily delayed.
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The Central Bank no longer publishes its interventions to keep their strategy secret. Wonder if they're flooding the market with dollars right now...