Vallo

PBR INSIDE A FLAT CORRECTION

NYSE:PBR   PETROLEO BRASILEIRO SA PETROBR
53 0 1
Gap 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
Comment: Wave B finished, made a flat correction, wave C starting today. It should close todays gap or at least partially, around 7$, that will be the best moment to open a short position, 5.45 will be the first target but it can still go further down.
Comment: Looks like wave B was actually a triangle and wave C started yesterday. I don't like very much the island reversal made at D, that gap should be closed soon. 5.45 target still valid.

snapshot
Trade closed manually: definitely something else is going on here and my analysis is worng.
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