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Petrobras on Verge of New Upleg?


Petrobras (PBR) appears poised for upside re-acceleration exactly one month after its multi-month recovery rally peak at 24.83.

Let's notice that PBR corrected 11%, right to its dominant intermediate-term support line just above 22.00.

It has since pivoted to the upside to confront initial near-term resistance at 23.30/40, which, if hurdled and sustained, should trigger upside acceleration towards a revisit of the Sept high.

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