haug01
Short

PBR is in an ascending wedge while USOIL prices are falling.

NYSE:PBR   PETROLEO BRASILEIRO SA PETROBR
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.
Comment: Added relevant links.
Added WTI link.
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