CTA for EWZ as of 2024-01-18

CTA for EWZ as of 2024-01-19

MTP for EWZ as of 2024-01-19

Chart for EWZ as of 2024-01-19

According to the CTA report, longs are likely to be reducing their positions. At the same time, the MTP report shows continued sell signals with a downgrade on one of the longer timeframes. Does that mean this downtrend likely to continue past the 50EMA, or will we see a bounce despite the signals?

I bought a PUT at open