Down timeNYSE:PBR As we can see the price exceeded the last peak ($ 8.01) and reached the top of the trend, now we have a bearish wave where the price seeks position C.
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PBR is in an ascending wedge while USOIL prices are falling.PBR is in an ascending wedge while USOIL prices are falling. PBR is testing resistance at $7.50 for the third time. USOIL tested support at $46 for the third time and broke down through that support. It now appears to be in a downward channel. Being new to this, I opened a short position on PBR two days ago and added to it yesterday. Ideally, I should have waited until PBR breaks downward . I will short PBR hard if it breaks down while USOIL is also falling.
I am new to this with no track record of success. Don't make any trades based solely on my posts.
PBR INSIDE A FLAT CORRECTIONGap closed and new impulse started, should stop at 7.45 or 8 and then fall in 5 waves to 5.45 to finish this flat correction. Then a new upwards cycle should start
PBR Island reversal, target 5.50$Island reversal spotted at the end of B wave, will expect at least a fall until 5.50 forming a flat correction. If 5.50 support is broken next target is 4.60/4.50.
My analysis will become void if PBR reaches 6.90 closing the gap in the Island reversal.
BULLISH ENDING DIAGONAL AT WAVE CBuy PBR at 5.84 target 7$ stop loss 5.75
After reaching 7$ PBR will continue its fall until 5$ at least.
Optimism?Petrobras in a new management. The new president says that he intends to rescue the company of an "organized gang", and will attempts partnership with shareholders to raise the economy of the company. In the other hand some scholars do not agree with the Parente's (new Director) proposals and intend to struggle against the reform in the company.
In my view, I am optimistic about the change in the company and the way of the Lava Jato (anti-corruption investigation) is taking.
From now the trend is improving, though bad times are still to come! Be aware.
BMFBOVESPA:PETR4 BMFBOVESPA:IND1!
Kind Regards.
PBR close to finishing it's correctionPullback coming on PBR to 6.36 in a wave iv of C, then final wave v of C. Fibs line up very nicely both on the impulsive C wave and the retracement levels of the entire wave 1 impulse. Techs signaling oversold, just in line with a bounce up in wave iv.
PETR4 - Potencial AB = CD pattern in playPETR4
Potencial AB = CD pattern might be forming on the daily chart, giving us a 8:1 Reward to Risk ratio, which is nice.
- Support @ 8.00
- 38.2% Fib Level
- Black MA acting as Support
Long PBRLooks like oil is going to make another move but thinking next week the smaller plays will have there turn.
Long Pbr target above $9 Also see flag
