Argentina (ARGT) is breaking out

The Global X MSCI Argentina ETF (ARGT) is attempting to break out from a November 2025–January 2026 triangle within a broader May 2025–January 2026 basing pattern. The setup remains bullish above 96–95, reinforced by rising 13-, 26-, and 40-day moving averages clustered at 93.64–92.14.

A confirmed breakout would target 105.70 (triangle objective) with potential follow-through toward 125 (larger base target). If needed, the January MTD lows at 90.20–89.77 define an additional downside support.

Relative strength adds confirmation, as ARGT is breaking out from a mid-2025 to early-2026 bullish head-and-shoulders pattern versus the S&P 500, reinforcing the constructive absolute trend.

We have highlighted bullish setups within Latin America for Brazil (EWZ), Chile (ECH), Columbia (COLO), Mexico (EWW), and Peru (EPU), as well as for the iShares Latin America 40 ETF (ILF), in this blog and recent research notes.

Chart 1: Global X MSCI Argentina ETF (ARGT) (top) and relative to the S&P 500 (bottom)