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PBR On The Verge Of Multi-Month Breakout


What a difference a day makes, eh?

Let's notice that Petrobras (PBR) is climbing in sympathy with overall market and crude oil strength today, and has pierced its prior rally peak at 20.52 on July 30, which now positions the price structure for a thrust above May-August resistance at 20.80/85.

If hurdled and sustained, PBR will trigger powerful, non-time specific, medium-term objectives derived off of the multi-month base pattern, into the vicinity of 24.00, and 26.00, thereafter.

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