Brazil ETF has created a quality falling channel…it remains 10% lower from December of 2009 and over 30% from its 2008 highs.

Currently it is at the top of the falling channel, up against stiff resistance, after breaking from a rising wedge.  From a Power of the Pattern  game plan, the play right now is…

Remain in cash and establish a buy order on an upside breakout of line(1).