The Brazilian real (BRL) closed the month of November at 0.18748, just off its recent major low monthly close of 0.17407 posted the month before. The reality of this long-term monthly chart is it is hard to make an argument, technically speaking, for the BRL to continue to move lower. However, there is Newsom’s Market Rule #1 that states, “Don’t get crossways with the trend”, based on Newton’s first law of Physics applied to markets, “A trending market will stay in that trend until acted upon by an outside force”. Though we are only one month removed from a new low, based on this monthly close-only chart we could say the BRL is trying to trend sideways between the October close and the recent high monthly close of 0.19143 from July. Given we have seen a series of bullish crossovers below the oversold level of 20% by monthly stochastics, the most logical breakout for the BRL would seem to be to the upside. If this occurs, the argument for a new major uptrend becomes easier.