PetroChina due for a Drop? Likely yes. PTR

NYSE:PTR   PetroChina Company Limited
A move on the Wave C in the suspect zigzag here is somewhat premature. Given that, data shows that this should happen anyway. This Wave B is unlikely to be a strong one, given the time and the moves that passed. Fibonacci is as always a very useful tool in showing us where we might be going. Time will tell us how low exactly we will descend if we are indeed.

We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!


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