O Ibovespa starts September under pressure from strong drop in iron ore in China and of the President Jair Bolsonaro’s willingness to review fuel pricing policy. The first fact weighs on the actions of the Valley (VALLEY3); the second, about the Petrobras (PETR3; PETR4). These are “only” companies with the largest participation in the Ibovespa.
In addition, the 0.1% decline in GDP in the second quarter, compared to the first, contradicted market expectations of an increase between 0.1% and 0.2%. The result was released this morning by the IBGE, and interrupts a sequence of three consecutive quarters of growth.
All in all, investors start September, aftermath of the August drop and wondering where the market is headed. For Maurício Camargo and Ernani Reis, graphic analysts at Now Investments, the milestone to be monitored is the 118,300 points, considered the closest floor to the current level. Yesterday (31), the Ibovespa ended at 118,781 points.
If the index breaks this barrier, it will make room for further declines. In this case, the first support would be in the region of 116,500 points. If, however, that is not enough to stop the devaluation, the next support would be at 114,800 points.
Did you like this news? Download our app to read, in just one click, this and more than 150 articles daily.